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Tell him to save his money and pay cash. It does amaze me that some people don't have any common sense about managing money. Years ago, I was at my banker and he told me a story that an owner of a shop complained that he was discriminated on a loan. Turns out that his last 3 years 1040 returns indicated he only grossed $2500 per year. Also because he did a lot of cash business he did not report. What goes around, comes around.

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