COMO SE DICE "NEGATIVE AMORTIZATION" EN ESPANOL?
This piece from the boys at Whiskey & Gunpowder shows that economic insanity isn't just for Americans anymore.
Apparently, housing bubbles are popping up everywhere. (Popping up? Get it? Never mind. Just enjoy the piece.)
Apparently, housing bubbles are popping up everywhere. (Popping up? Get it? Never mind. Just enjoy the piece.)
posted by Mike at 7:35 AM
4 Comments:
Mike,
Are there a lot of "for sale" signs in your area?
A lot is overstating it. It's NYC afterall.
But I note to my wife, as we were strolling last weekend, a For Sale sign on a house we'd passed a few times before.
No sign the prior times.
Don't go to bed,
With neg-am on your head
No, no, don't do it.
Don't sign that line,
If you can't pay on time,
Yeah, don't do it.
And keep your eye on the sparrow.
When that equity squeeze gets narrow.
Don't do it, don't do it.
Now where can you go,
Where the cold winds don't blow
Don't do it, don't do it.
Jose: Hola Pepe!
Pepe: Good to see you Jose.
Jose: I see jore scratches all healed up. (snickers)
Pepe: Si, do ju want a beer?
Jose: A beer would be nice.
Pepe: Jose, how do ju like my house?
Jose: I like it fine.
Pepe: Do ju want to buy it from me?
Jose: No, I can't afford it.
Pepe: Why not?
Jose: I have no money.
Pepe: I know a guy who knows theese guy.
Jose: No.
Pepe: Hear me out amigo.
Jose: Okay.
Pepe: You see ju get a neg am no doc loan.
Jose: Yes.
Pepe: And theese guy appraises my house for a meellion dollars.
Jose: A meellion dollars!
Pepe: Si, don't worry, you don't have to pay it back.
Jose: I don't?
Pepe: No, you just live in it until the sheriff comes.
Jose: How long weel that take?
Pepe: Oh, about seex months.
Jose: How do I pay de beels?
Pepe: I give you a hundred thousand dollars to live on.
Jose: Ju sure are smart!
Pepe: Si.
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