1 minute readThe below has been circulating today around various Wall Street types, and I’m not at liberty to share the source. But enjoy the Steve Miller send-up, anyway: This here’s a story about Billy Joe and Bobbie Sue. Two young borrowers with a FICO of 322. They bought a house , with a section 42. And here’s what happened when they decided to cut loose. They doubled down with a condo in…. old El Paso. That’s where they ran into a great big hassle. Billy Joe lost he job managin a White Castle. Bobby Sue took the Foreclosure and Run! Go on… Take the Foreclosure and Run! Billy Mack is a loan officer in Texas. You know he always….lends out what the max is. He ain’t gonna let those two …face Foreclosure. He made a livin doin No Doc refinances. Go on…Take the Foreclosure and Run! Bobbie Sue, Whoa, She’s now considered Alt A. Billy Joe defaulted the very next day. They just got a FHA mortgage, Hey. You know they got it made. They’re headed down south to flip stuff on EBAY! Singin… Go On…Take the Foreclosure and Run!
Paul Jackson is the former publisher and CEO at HousingWire.see full bio
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Paul Jackson is the former publisher and CEO at HousingWire.see full bio
