The joy of redlining: Why I never lend money to Florida • LendingMemo

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Roughly half of the owners of Detroit’s 305,000 properties failed to pay their 2011 tax bills, resulting in about $246 million in taxes and fees going uncollected, nearly half of which was due to Detroit; the rest of the money would have been earmarked for Wayne County, Detroit.

The joy of redlining: Why I never lend money to Florida In the 1950s, it was common practice for banks to section off areas of their. 0 Shares 24 January 9, 2014 in Editorials

I knew a California guy in Las Vegas he ‘owned’ three condos in the building I was renting in. He had "flipped" 20+ houses and when the whole ponzie scheme fell apart in the summer of 2007 he mailed the keys into the bank who held the mortgages with 5% down on the 3 condos and walked away a multi-millionaire having won 17 times and only lost the final 3 times.

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