Many people have been wondering how to make a little something from the whole housing implosion. Sure shorting the HBs was fun but so 2007. Now American Home has provided the answer. The company, once one of the country's largest mortgage lenders, says it can no longer afford the $45,000-per-month rental on warehouse space to preserve hard loan files.
What say we all pitch in and buy a freaking warehouse in Oklahoma and shovel all this stuff in. Won't be long before somebody looking to discharge a foreclosure comes around looking for the court ordered original documentation. $10,000 per file. What? Outrageous you say? Fine, go back to the judge with your story. Better yet, we'll go to the judge and to the borrower and while your ass rots in the slammer for contempt we'll be selling that same file to the borrower for pennies on the dollar. Lawyers in jail. it doesn't get any sweeter.
4 comments:
First good idea I've heard today!
And a Murst one too.
What say we all pitch in and buy a freaking warehouse in Oklahoma and shovel all this stuff in.
Man, you guys are always trying to dump stuff on us. We don't want a bunch of Californicators digging around any of our buildings looking for evidence of their mortgage fraud. Dump it in Arizona somewhere.
Yucca Mountain.
On second thought, maybe that stuff is too radioactive...
There are a bunch of vacant salt domes around here. Can't beat a hollowed-out salt dome for security. They aren't very expensive, either.
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