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Investors wonder: Where did all the mortgage firm's money go?
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By DENIS PAISTE
New Hampshire Union Leader Staff
Wednesday, Dec. 2, 2009
A Cape Cod inventor says the failure of Financial Resources Mortgage Inc. has brought his business to a standstill.
►Attorney: Mortgage firm's owner back in NH (3)
►Troubled mortgage firm under water
►FBI looking into mortgage firm's closure (9)
►Attorney: Mortgage company president will not hide
►Mortgage firm shutdown draws fire (10)
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YOUR COMMENTS
It's ironic when investments pan out no one hears a word of how good the company or its management was, etc. And when it goes bad, it's automatically "assumed" that someone took the money and ran. While that is often the case, it's not always the case. The cost of running a business with employees, taxes, benefits, etc. can become greater than the income generated by the efforts. If you let people go, then you're the bad guy for laying them off or whatever.
Every investor should find out if they MEET the INVESTOR QUALIFICATIONS to be able to invest. The qualifications are pretty clear and don't require a PhD to understand.
The bottom line is to know what you're investing in and to clearly follow the rule of thumb - if you CAN'T afford to lose it, DON'T INVEST IT.
- R, Raymond
Private investment deals like these are loaded with risk. When they pan out, they can be a good deal. When they don't....well, you can see the result.
- Brian, Farmington
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