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Originally posted by dj_bas Ok so $70,000 worth of second mortgage is paid off...what about the remaining $300,000+? Am I not understanding what a mortgage is or what?

yeah your a bit misunderstood. an equity line is a "mortgage" but its works like a credit card. you have a certain max available but you only pay interest on what you use.

I can guarantee you this never happened, there's just way too many pieces that don't fit together.

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Originally posted by dj_bas Ok so $70,000 worth of second mortgage is paid off...what about the remaining $300,000+? Am I not understanding what a mortgage is or what?

he didn't have to take out a mortgage for the entire value of his house (or whatever part of it he had already paid back on his 1st mortgage). He only needed 75k, so that's (presumably) the total of the loan. Otherwise, if he borrowed 300k, he could just use 75k, then pay back the other 225 immediately, then pay the other 70k, and still wind up with 5 left.

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Originally posted by Igaryok I can guarantee you this never happened, there's just way too many pieces that don't fit together.

I don't know--there are some really dumb people out there, but the thing about "it worked for the coffee shop" isn't quite cutting it for me. Also, the fact that they'd supposedly sent out fliers, but this never got back to corporate ahead of time (yet magically did within the first hour) is a bit suspect.

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Originally posted by Igaryok I can guarantee you this never happened, there's just way too many pieces that don't fit together.

yeah i agree it does sound quite fishy to me. i have a hard time believing it too but who knows.

I think that Bassel guy is never going to try anything else than a Vdub

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Originally posted by inconspicuous I don't know--there are some really dumb people out there, but the thing about "it worked for the coffee shop" isn't quite cutting it for me. Also, the fact that they'd supposedly sent out fliers, but this never got back to corporate ahead of time (yet magically did within the first hour) is a bit suspect.

Not only that but he said it took them 18 porsches to realize what was going on. So do you think people just went ahead and bought the cars without verifying the validity of the flyers? And I'm sure that if Wal-Mart can say that a $99 30GB Ipod in their flyer was a mistake, a Porsche dealer can do the same thing. And then the public spokesperson publically calling him an idiot, doesn't seem very professional or likely.

He wants a Mercedes.

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Originally posted by inconspicuous he didn't have to take out a mortgage for the entire value of his house (or whatever part of it he had already paid back on his 1st mortgage). He only needed 75k, so that's (presumably) the total of the loan. Otherwise, if he borrowed 300k, he could just use 75k, then pay back the other 225 immediately, then pay the other 70k, and still wind up with 5 left.

Oh ok, I just thought that when you take a mortgage out on your house it's for the entire value, I didn't know you could do less than that. In that case, they BOTH win at life

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Originally posted by jdat I think that Bassel guy is never going to try anything else than a Vdub

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Originally posted by Frenchie He wants a Mercedes.

Or an Audi

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audi doesn't count, same company as Vdub

Shut up, Kyle!

They're still hot. Audi S4 plzkthx

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Originally posted by dj_bas Shut up, Kyle! They're still hot. Audi S4 plzkthx

That's a true statement. The S4's are sexay