[2banana]

Total Insanity. These people are going to lose everything. It may be boring to have $200,000 equity in your house, some savings and a stable job - but that is better than absolute misery with massive debt, foreclosure on your house and wondering how you will ever make it...

When is this real estate madness going to end????

[Alter Kaker]

Nouveau Riche University? Frankly, anybody the name itself should have been enough of a giveaway to scare away anybody with half a brain cell.

[ikka]

Co-founder and CEO Jim Piccolo claims that revenues will top $80 million in 2007, up tenfold since 2005, when the company was founded and the real estate market peaked. Piccolo makes money not only from tuitions but also from commissions on the properties his students buy and from the fees he charges for accounting, finance, and property-management services.

I sense that jail is in the future for Piccolo...

[robertpaulsen]

"She'd carefully squirreled away some savings and bought herself a little house."

On which she was able to extract $200,000 in a refinance? Some little house.

Plus on a "modest salary at the public library" she can afford to pay an additional $2,000 per month to service that loan? That's it. I'm submitting my resume to my local library.

[posterchild]

They have it backwards. One does not become wealthy as a result of SEEKING risk, though the work of becoming wealthy often requires one to ACCEPT risk.

[Tax-chick]

If she needed risk in her life, she could have taken up skydiving.

Oh, well, not my problem, unless I’m expected to feel sorry for her if she loses everything.

[Lancey Howard]

As foreclosures increase and values drop, smart investors should be able to score a coup. Timing is everything.

[LetsRok]

"Several months ago Silvia Cuevas took stock of her life, and it was a profoundly unsettling experience. At 40 she had a solid job with a modest salary at the public library in Santa Ana, Calif. She'd carefully squirreled away some savings and bought herself a little house. She was financially secure - and utterly dissatisfied. All around her, Santa Ana throbbed with the feverish energy of recent immigrants eager to cash in on the promises of America.

"I was going nowhere," she recalls. "How was I going to find my fortune?" Then a girlfriend introduced her to Nouveau Riche University. "

You will not "find" you fortune working in a public library. How about reading some of the books and changing vocations?

[RightWhale]

More for sale by owner signs up today, and real estate broker signs too. They are not selling. The few that were sold last summer (June) sold instantly.