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Wacky Real Estate News: Housing Bubbles & Prostitutes

Author: Joshua Dorkin   • URL: http://www.biggerpockets.com/
September 11th, 2007   •  

In the strangest news story I’ve ever read about the housing bubble, CNN tells us about a couple in New York that transformed their house into a brothel. Apparently, both were in the mortgage business, working for Myles Mortgage Services, and were facing foreclosure on a second home.

Creative . . . but, probably not the best way to go about making some side money.

Oh, the things this bubble is doing to people!

Source: CNN - A mortgage meltdown of ill repute?

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7 Responses to “Wacky Real Estate News: Housing Bubbles & Prostitutes”

  1. Jason Fox | 13/09/07

    thats a pretty amazing story. Sad that they actually thought it would work… lol

  2. R.Soto | 13/09/07

    Well times are hard in the mortgage industry! lol

  3. Barry Cox | 13/09/07

    I saw that story on the news last night as well. Unbelievable. It’s funny though how in this industry agents, brokers etc. don’t save for a rainy day. I know so many people who just blow their paycheck every time they have a closing, and never think about the next month.

  4. Climb Kilimanjaro | 15/09/07

    Maybe it was the only way for them to get cashflow!

  5. Money Merge Account | 15/09/07

    That’s classic! Hey, once you go into the mortgage business you don’t ever want to work for someone else again. Maybe they had some hooker hookups and that was the easiest business to start ;-)

  6. Peter B. | 16/09/07

    People do crazy stuff… agree.
    You should see all those empty houses down here in Las Vegas!

  7. Visalia Homes for Sale | 23/09/07

    wow. Desperation will lead some to act in umm….odd ways. At least I hope it was out of desperation! Thanks for the laugh :D

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