Funny or tragic?

Creasy Bear

gorgeousness and gorgeousity made flesh
Donator
#1
Or maybe a little bit of both?

So... about two months ago I made like Snake Pliskin and escaped from New York. I'm now living in Indianapolis, and I couldn't be happier... but that's another story.

Anyway... to make the move I had to sell my house on Long Island... Stony Brook. I put my house up for sale just as the housing market started circling the bowl. The house was on the market for over half a year, I dropped the price twice... to the tune of about a $100K decrease. Just as I was starting to panic, we finally found a buyer. A guy from Dayton, Ohio who got a big promotion at the mortgage brokerage where he worked, but he had to transfer to Long Island... Melville.

So... two months ago, we're at the closing, which took place at the corporate office where he worked, yeah... pretty intimidating, and the guy is a complete pompous ass. Bragging about his big promotion... showing off his fancy schmancy new office with his big desk and leather chair. He talked about how Ohio was too small for a playa like himself, and how stoked he was to be in the "big leagues" of New York... a town worthy of his talents.

I asked him if he maybe wasn't a little nervous about what was going on in the declining housing market. He rolled his eyes, and lectured me like I was a special ed. waterhead. He insisted that "his" company did not get involved in the slimy subprime mortgage end of the business, therefore "they" were rock solid. He had nothing to fear. He was crapping rose petals and smiling sunshine.

Now he's got himself a fancy $900,000 house on Long Island, and he moves his entire family out from Ohio, and they set up housekeeping.

He's got the world by the balls...a big wig job with one of the largest mortgage brokerages in the country, a McMansion in a fancy gated community, a fine German automobile, the respect and admiration of lesser mortals.

The future's so bright, he's gotta wear shades...

Oooopsy!

American Home Mortgage Gets Bankruptcy Court OK
Wed Aug 8, 2007 8:01 AM


http://investing.reuters.co.uk/news...495_RTRIDST_0_SP_PAGE_012-N07275495-OISBN.XML

American Home Mortgage Corp (AHMIQ.PK: Quote, Profile , Research) got bankruptcy court approval on Tuesday for debtor-in-possession financing to pay salaries and other costs as it shuts most businesses...

American Home closed most of its operations on Aug. 3 and fired more than 6,000 workers. The company has said it expects its employee base to be reduced to about 750 workers, down from the 7,409 it reported at the end of last year, as it shuts down or sells its remaining businesses over the next few months.

The company became the latest casualty of the problems in the U.S. mortgage market, which has been hit by rising customer defaults and tightening credit markets.
This? :icon_cry:

Or this? :haha7:
 

Dani75

I hate stupid people...
#2
HA HA HA! Funny. Assholes always get what is coming to them. I bet you can't wait to have an old neighbor call you and tell you your old house is for sale for half of what the asshole paid for it.
 

krisko

Mrs. Fuckin Funny
#4
funny...other people's misfortunes are always, ALWAYS! funny. i love it and i need to hear more stories like this, they make me feel warm and fuzzy :)
 

Creasy Bear

gorgeousness and gorgeousity made flesh
Donator
#5
So... the consensus is :rotf:

You people are cruel, stone-hearted bastards... and that's why I love you.
 
#6
I've been unemployed for about 2 months now, and people that know me ask me questions like I'm some lazy bum who just refuses to go back to work.

My line of work? Subprime mortgages.

They just don't understand that any job I get in Mortgage these days would be a stop gap at best.
 

Creasy Bear

gorgeousness and gorgeousity made flesh
Donator
#7
I've been unemployed for about 2 months now, and people that know me ask me questions like I'm some lazy bum who just refuses to go back to work.

My line of work? Subprime mortgages.

They just don't understand that any job I get in Mortgage these days would be a stop gap at best.
Ooo-fah.

And with the death of American Home Mortgage, Inc. there are 7000 more resumes on Monster.com

Good luck, bro.
 
#9
I've been unemployed for about 2 months now, and people that know me ask me questions like I'm some lazy bum who just refuses to go back to work.

My line of work? Subprime mortgages.

They just don't understand that any job I get in Mortgage these days would be a stop gap at best.
I'd suggest moving to some other area of finance, I learned the hard way don't wait around for your industry to rebound. Used to be in electronics...
 

Cybouncer

Not Fat, Big Boned!
#10
I knew EXACTLY where this story was going as soon as you mentioned that he was in the mortgage industry.

My company uses the Marriot right there for meetings and on the day they closed down we expected to see people throwing themselves into traffic on the LIE. On L.I. alone, 1700+ people were laid off as a result. The economy is going to shit here fast!!!
 
#11
Is anything ever tragic on wackbag?

 
#12
:haha7::haha7::haha7::haha7: from me. IF he hadn't been such an arrogant ass when you met with him, I would feel a little bad for him. But since he was a total douche, it just proves that karma is indeed a bitch.
 

THE FEZ MAN

as a matter of fact i dont have 5$
#13
what would have made this tragic would be if he flipped the place and made 200k
 

DeltaPin

Well-Known Member
Donator
#14
"Don't fuck with The Machine!"


:haha7: It's funny 'cause it's not me.
 

bethm1b

person of interest
#15
Better him than me. And I Snake Pliskined the hell out of Nuevo Jork about a year ago myself and have never been happier.
 
#16
I'd suggest moving to some other area of finance, I learned the hard way don't wait around for your industry to rebound. Used to be in electronics...
Nah, got a job as a medical recruiter, just gotta wait on the wheels of HR in Corporate America to get my paperwork through.

I thought about going into auto finance, but working 9am - 9pm 6 days a week with a bunch of fucking car salesmen just doesn't really sound like it should be on my things to do list... They do make an ass of money though...
 

Creasy Bear

gorgeousness and gorgeousity made flesh
Donator
#18
...Update...

I was back visiting some friends and family on Long Island last week.

I got the scoop from my old next-door neighbor...

Pompous Boy held on for a good long while. After American Home Mortgage folded, he was unemployed for about three months, but he stuck to his guns and he and his family stayed on Long Island determined to make it work. He eventually landed a job with a company in Manhattan... poor bastard... commuting from Stony Brook to the city every day... ouch. But alas, due to the lean times, that company did a little belt tightening, and he was squeezed out yet again. He made a last ditch effort to take out a second mortgage on the house to keep himself afloat, but no dice... falling home values left him with about zero equity in the house, so there was no blood to be squeezed out of that turnip. He tried to work with the bank to set up a short sale on the house, but his prospective buyer got cold feet at the last minute and pulled out.

About two months ago, he conceded defeat... he left the key in the lock, packed up the clan, and vamoosed... bound for parts unknown.

The bank, who now owns the house, has listed it for sale at $740,000. It'll probably sell for much less.

So...

the house I bought for $655,000 in 2001... which I could've sold in 2005 for nearly a million bucks... which I did sell to Pompous Boy in early 2007 for $880,000... will probably be sold for somewhere in the vicinity of $700,000 in late 2008... IF it sells at all.

People, it's like they say... "Timing is everything."
 
#19
...Update...

I was back visiting some friends and family on Long Island last week.

I got the scoop from my old next-door neighbor...

Pompous Boy held on for a good long while. After American Home Mortgage folded, he was unemployed for about three months, but he stuck to his guns and he and his family stayed on Long Island determined to make it work. He eventually landed a job with a company in Manhattan... poor bastard... commuting from Stony Brook to the city every day... ouch. But alas, due to the lean times, that company did a little belt tightening, and he was squeezed out yet again. He made a last ditch effort to take out a second mortgage on the house to keep himself afloat, but no dice... falling home values left him with about zero equity in the house, so there was no blood to be squeezed out of that turnip. He tried to work with the bank to set up a short sale on the house, but his prospective buyer got cold feet at the last minute and pulled out.

About two months ago, he conceded defeat... he left the key in the lock, packed up the clan, and vamoosed... bound for parts unknown.

The bank, who now owns the house, has listed it for sale at $740,000. It'll probably sell for much less.

So...

the house I bought for $655,000 in 2001... which I could've sold in 2005 for nearly a million bucks... which I did sell to Pompous Boy in early 2007 for $880,000... will probably be sold for somewhere in the vicinity of $700,000 in late 2008... IF it sells at all.

People, it's like they say... "Timing is everything."
I'd be laughing if it didn't sound like an episode of "This is your life" to me... I'm just not a pompous ass in real life. (Just with you douche bags. :action-sm)
 
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