September 10, 2007

Failed flipper mortgage brokers give up after housing crash, open brothel, then get arrested. Nope, you can't make this sh*t up.

The only thing we got wrong in our predictions is that we thought the mortgage brokers THEMSELVES would become the prostitutes (or go back to being hookers). I guess that comes later. Here's the story of two failed mortgage brokers, who also failed at flipping, and now who've failed as brothel owners. Ah, their parents must be proud...

Just when you thought the mortgage profession couldn't fall farther in America's eyes, we get this. But then again, you know there's a bunch of 'em now out there selling drugs to kids, robbing banks and doing whatever else they can do to keep the good times going. Because we all know mortgage brokers (and realtors) are low on the "ethics" scale.

However, I do think "Pimp" is one step above "Mortgage Broker"...

(CBS) NEW ROCHELLE The downturn in the housing market appears to have driven two Westchester homeowners to desperate and illegal measures.


New Rochelle Police raided a 3-bedroom home on North Avenue Friday night arresting four alleged prostitutes and the homeowners.
The house, they say, had been turned into a brothel complete with heavy shades over all the windows and a red ribbon placed out by the sidewalk to indicate they were open for business.

Richard Werner and Heather Mezzenga are charged with promoting prostitution. The two are both mortgage brokers who moved out of the house roughly two years ago so they could begin renovating a home on Mountain Road in Pleasantville.

New Rochelle neighbors told CBS 2 the house had originally been listed for $750,000 but didn’t sell even after the price had been dropped to $600,000.

David Saperstein said, “He couldn’t get his price, then he rented,” but a series of families came and went and the house fell into apparent neglect until new occupants apparently arrived two weeks ago.

32 comments:

Anonymous said...

ROFLMFAO!!!

I have a friend who's also a real estate broker looking to start new businesses also.

I'll email him this story for ideas.

LOL!!!!

Anonymous said...

We need more REALTOR strippers reeking of desperation

HONESTLY said...

Instead of "mortgage brokers" let's call them "mortgage hookers"

Anonymous said...

Lots of Toll Brothers homes that will be homegrown centers and hooker havens

Anonymous said...

don't worry about it.

the realtor and mortgage babes will be working at your local gentlemen's clubs very soon......

what is it about fishnet hose that turns me on.? :)....

Mark in San Diego said...

Just like the "luxury" Acqua Vista Condo in San Diego - now people are renting on Craigslist to SECTION 8!!. . .there goes the neighborhood.

Anonymous said...

This is exactly what real estated is aligned with.

Anonymous said...

Hey Keith, you are doing a disservice to Pimps of America by comparing them to mortgage brokers and Realtors.

It makes sense, though: "Beatchhhh, where's my money!

Anonymous said...

Thats it, im going to every OPEN HOOKER sign, i mean Open HOUSE sign this sunday!

Ron said...

I suspect this is going to be very rare, and isolated. However, grow houses or cooking operations will flourish in the coming years. I know also that you should probably buy stock in alcohol based corporations as well. I think that the largest growth you will see is going to be in the tobacco, alcohol, and illegal drug industries in the next 3-5 years.

Good news for me is desperate people will go play poker also, so more free money for me.

Roxanne-U Dont have 2 turn on the RED LIGHT said...

HEY-
You can whore yourself for sex, or whore yourself for Countrywide, at the end of the day, everyone is workin for the man...Corporate prostitution is just as bad----sad but true.

baddriver said...

I live about 20 mins away in westchester and I love that we are finally getting in the housing bubble news. Most of the sites I read only have stories on CA, AZ and FL. Nice to see some NY love!

Lost Cause said...

It's legal in Nevada.

No, not lying on loan applications -- prostitution.

Anonymous said...

And the pole always goes up!

Anonymous said...

Pimped out FOREVER!!!

Anonymous said...

I see no difference except that 1)state did not declare their former profession illegal, 2) now they are actaully earning their commission in the services they are providing.

Anonymous said...

so *thats* what always goes up, not the house price - makes sense now.

k.w. - southern ca. said...

A neighbor down the street - who works for a major firm selling lighting fixtures - has now been forced to work out of his home due to lack of business.

Folks, this is *really* getting scary when I think that this individual is one of the top regional sales managers for this business.

Not that being forced to working out of your home is such a bad thing, but it makes you think about the huge ripple effect the housing catastrophy has created in all other businesses tied to it.

This man is fortunate though in that he has paid off his mortgage, this is not the case for so many others.

k.w. - southern ca. said...

So true, and that's why more and more people - when given the opportunity - will try as hard as they can to work for themselves.

~~~

Roxanne-U Dont have 2 turn on the RED LIGHT said...
HEY-
You can whore yourself for sex, or whore yourself for Countrywide, at the end of the day, everyone is workin for the man...Corporate prostitution is just as bad----sad but true.

LauraV said...

Soon "stay at home moms" will be hooking on the side to make their mortgage increase!

LauraV said...

Ron said:" grow houses or cooking operations will flourish in the coming years. I know also that you should probably buy stock in alcohol based corporations as well. I think that the largest growth you will see is going to be in the tobacco, alcohol".

Agree, with you Ron.
Gambling is out though. Everyone already bet the farm on their homes!

Anonymous said...

I'll bet one of those prostitutes is named "Suzanne." She and that bitchy wife in her commercial went into business together.

SUZANNE! U don't hv to turn on the RED LIGHT said...

LMAO!!
Now that is the perfect tweak to the clever little ditty posted earlier......

Grrrr....Gotta love the idea of those MILF Realtor Mom's turned desperate housewives though! BOOOO YAHHHHHHHHH

burn baby burn said...

screwing is screwing

Anonymous said...

HUD will buy up millions of homes by 2009 and turn them into Section 8 housing. People who paid $750K to live in luxury neighborhoods will be living next to crackhouses and have hookers and gangbangers roaming the streets. This will only lead to more people abandoning their debt boxes as home values continue to drop as the deficit skyrockets. Educated American citizens will flee to Europe, Canada, New Zealand and Australia. The politicians will replace them with uneducated illiterate Mexican and Muslim immigrants.

Anonymous said...

.



I sure hope it wasn't that Rolex n diamonds withered clam!




.

Anonymous said...

PIMP THAT HOUSE!

Anonymous said...

Perhaps another good HP question of the day---

"Has the level of talent at your local strip joint improved since the start of the real estate bust?"

Anonymous said...

Keith is hitting on my girlfriend to-be again, Diana.

http://www.cnbc.com/id/20723962


She mine Keith! BACKOFF!!
LOL.

Diana Olick's love child said...

That naught, naught secductress Diana Olick just can't stop inserting titillating details into her blog. Her blog says no, but her say yes! I'm hoping for a catfight with Maria Bartiromo and Erin Burnett in which Olick comes on top.

kitchenstove said...

I don't know whether to laugh or cry.

Anonymous said...

For what it's worth, I live in Westchester and North avenue is not a great street at all. 25 years ago was ok, now, it's....well, why don't we call it "shady." If this bozo wanted even $550K for a home on North Ave, I wouldn't pay. Sounds like he was numbskull.