but property title has not been a particular problem in the united states, except that it is come berso so many. the united states does not have a torent system where you register titles like you do with cars. so i don't know that that's a particular problem, but appraisal value is a definite problem. >> i was surprised when doing the documents that the owner had an f.h.a. loan. i thought something had changed since then, but it hadn't. i got to know the buyer. i had never studied their finances, but clearly they didn't need zero down. they could have put something down. the question is, how do you treat that? i guess that's under your third principal -- principle. the money, everything went fine. >> that's moral hazard. when the government does something and just opens it up to all comers, which f.h.a., at the point you sold that house, peter, that's what it was. the income limits say -- when they don't have income limits, number one. their mortgage limits have gone up to $700,000 in some areas, so virtually every house qualifies for f.h.a. financing, and they allow 3.5% downpayment. t