Last Sunday, a neighbor passing by in front of our house saw me while I was sweeping leaves on the road in front of the house. She mentioned of another neighbor who needs 6 numbers in loan. This post chided her for always taking up business on the street not much different from a taho vendor. I said I will relate this to the people who know that aspect of the business. And so I did.
It was a day before the estate tax amnesty deadline so we had to move fast. I tried to have the parties update me on the said transaction. The other neighbor who needed the loan: 1. Did not present the documents 2. Did not show up 3. Said they were willing to pay up to 5% per month. We would charge 2% at most per month
It was reported that the proponent had a pares business at 3rd floor of a building (and therefore incurred huge losses) and was paying sky high rent. The loan proceeds would just be used to pay off another loan (bad). The ownership of the property being used as security is not theirs being adopted (the parents are childless and they were two adopted - trouble ahead) The property is intestate and would probably pay huge penalties
Some people will remain poor:
1. For lacking etiquette in doing business;
2. Some people lack clarity and would like to go on transaction that are unclear and would result in
misunderstanding in the future.
3. Greed and selfishness persist
4. People make poor choices that is why they will remain poor
