tag:blogger.com,1999:blog-18675105.post2944072125484060001..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Here's an expose on two laid-off New Century subprime execs, with over $10,000 a month in mortgage and other expenses, and a home crashing in valuebloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger69125tag:blogger.com,1999:blog-18675105.post-76298143335305030952008-04-08T21:34:00.000+01:002008-04-08T21:34:00.000+01:00Jesus. $10,000 in debt maintenance a month, and th...Jesus. $10,000 in debt maintenance a month, and the best they can do is fire the gardener, trade the penis-mobile for another, equally-expensive but less-efficient penis-mobile, and cash in the little lady's 401K?<BR/><BR/>Oh, but he's got a line on a sweet new RE scam, and she's selling her little "designs" on the internet (I swear, these "jewelry designers" are without fail fake-tit-having, golddigger bimbo suburban white trash who are just a bit too old to go back to stripping). What a couple of worthless, uneducated, greedy scumbags.<BR/><BR/>The best part is they *refuse* to make the real lifestyle cuts that would save their dumb asses. Their attitude of entitlement sickens me. Oh well... the bigger the pride, the greater the fall.<BR/><BR/>I'll pop up some popcorn...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-63233191925809738552008-04-04T14:39:00.000+01:002008-04-04T14:39:00.000+01:00"Interested In:... * getting back in touch *":^..."Interested In:...<BR/> * getting back in touch *"<BR/><BR/>:^D<BR/><BR/>She's about to get a BIG DOSE of that, all right.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-76772378515761573332008-04-04T05:15:00.000+01:002008-04-04T05:15:00.000+01:00I would love to see a follow up story where things...I would love to see a follow up story where things get so bad they end up renting back in Panorama driving a Pinto.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6526928888581747582008-04-03T02:32:00.000+01:002008-04-03T02:32:00.000+01:00This is standard OC. The Irvine Co. (largest OC l...This is standard OC. The Irvine Co. (largest OC land owner/developer going back decades -- UC Irvine named after the family) -- has been developing all remaining open land at a furious pace these past several year. This is how it all works: Land deals/housing sales fuel OC's corrupt Republican politics. The amazing amount of property taxes collected each year has been paying county employee's pensions -- most notably Orange County Sheriff employees (OC Sheriff Mike Carona resigned 2 mos ago, facing multiple counts of corruption charges filed by the Feds). The Board of Supes always votes in favor of these massive entitlements, b/c they're afraid of law enforcement unions -- and have been playing their own ponzi game to fund these pensions with the real estate taxes. The Board of Supes are always on the take (Supervisor Norby now in the news for illegally using his campaign funds to pay for personal expenses -- i.e. hotel charges b/c his wife kicked him of the the house & he was homeless), along with the numerous city council members, getting donations from the Newport Coasters, attending campaign events at the McMansions. Can't get a cup of coffee in this corrupt shithole unless you're Republican. Republican Party of OC is one giant ant hole of corruption, and controls both the DA's office & Sheriff's Dept. These soon to be former homeowners (the 'Copes' -- LOL) are nothing new here - typical 'pigs in finery' rampant in places like Ladera Ranch & most especially, the white trash town of Aliso Viejo. Just so happens CNN picked up the story on this pair. The fact that the husband had his former home in Panorama City is perfect -- the reality is THAT is who he is. Panorama City is a blue collar, post WWII cracker box house town that's now gone all black/hispanic, along with most of the LA post WWII blue collar suburbs. They were faking out themselves and pretending to be something they really aren't. That's why they have no savings. They never had money to begin with. Same with SO many OCers. I'm a 3rd generation OCer -- so I remember this as an agricultural area -- that's why it was called "Orange County" -- all orange groves, agri & avocado. Now its one big mess of Republican corruption.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-12206512712975659322008-04-02T22:15:00.000+01:002008-04-02T22:15:00.000+01:00I knew we could count on you OC Renter! Good stuff...I knew we could count on you OC Renter! Good stuff, as usual.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-19256157097483162362008-04-02T18:25:00.000+01:002008-04-02T18:25:00.000+01:00"Heck, I wonder what I'm qualified for?"It depends..."Heck, I wonder what I'm qualified for?"<BR/><BR/>It depends on what you look like. If you look like her, you can be VP of anything you want.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72363580526805153612008-04-02T15:43:00.000+01:002008-04-02T15:43:00.000+01:00From a $10/hr retail store manager to a six figure...From a $10/hr retail store manager to a six figure salary is a bank VP in a couple of years. That reminds me of the Seinfeld episode where the lunatic is promoted from mailroom clerk to VP in two days. With clowns like that running the show, no wonder New Century went bankrupt. At least Enron had competent and smart thieves who used complex schemes to run their fraud from 1995-2001. These people are just buffoons who were lucky to ride the wave of fraud.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-19921371108896894962008-04-02T14:41:00.000+01:002008-04-02T14:41:00.000+01:00I was raised to believe living beyond your means i...I was raised to believe living beyond your means is dangerous and even immoral. Seeing what's going on with these people and the subprime mortgage meltdown, I see my parents were right. I can't feel any compassion for greedy and stupid sheeple. They deserve what they got. Foreclose already, rent a basement, trade in the goddamn ugly gas-guzzling Suburban for a '90s Camry, eat ramen, there you go!<BR/><BR/><BR/>"It's very expensive to live in Orange County, and you pay a lot for your home and you can't get what it's worth now."<BR/><BR/>Negative. Your house was worth a lot less than what you paid for it in the first place! Hahaha! <BR/><BR/>(I don't believe in God, but if I believed, I'd say he's striking them for their greed and gluttony! BURN IN HELL!)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55843168345739171622008-04-02T06:42:00.001+01:002008-04-02T06:42:00.001+01:00found their $1 million oceanview home<A HREF="http://bubbletracking.blogspot.com/2008/04/get-your-overpriced-jewelry-here.html" REL="nofollow">found their $1 million oceanview home</A>ocrenterhttps://www.blogger.com/profile/04644210348003492880noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-48469014426923005622008-04-02T05:30:00.000+01:002008-04-02T05:30:00.000+01:00"It's very expensive to live in Orange County, and..."It's very expensive to live in Orange County, and you pay a lot for your home and you can't get what it's worth now."<BR/><BR/>Parse that sentence again Kent. In fact you CAN sell your home for EXACTLY what it's worth. It's called mark to market. If you'd taken Finance 101 you might know that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46372524875801453862008-04-02T05:27:00.000+01:002008-04-02T05:27:00.000+01:00¡Giórgio Armani!¡Giórgio Armani!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55088487152937168632008-04-02T05:07:00.000+01:002008-04-02T05:07:00.000+01:00"...jewelry, beachwear, and real estate..."PRICELE..."...jewelry, beachwear, and real estate..."<BR/><BR/>PRICELESSAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72491995808219855332008-04-02T04:40:00.000+01:002008-04-02T04:40:00.000+01:00Dang! She became VP after 4 years in retail store ...Dang! She became VP after 4 years in retail store management with a 2 year fashion degree. <BR/><BR/><BR/>Not to pick on fashion degrees... personally, I love fashion. But qualification a banking VP? OK... sure... 2 years at Armani is nice. (Assuming it wasn't A/X Exchange.) Still... VP... banking?<BR/><BR/>Heck, I wonder what I'm qualified for?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-12981410434264747222008-04-02T04:03:00.000+01:002008-04-02T04:03:00.000+01:00sunny california...gotta luv it.dept of educ sent ...sunny california...gotta luv it.<BR/><BR/>dept of educ sent out notice to 20,000 employees that layoffs may be in their future...... i wonder if those people, their families & friends might start cutting back a bit after getting the notice?.... the downward spiral continues.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72521228016456787742008-04-02T01:37:00.000+01:002008-04-02T01:37:00.000+01:00tangelo mozilo said...I wonder if they have any sa...tangelo mozilo said...<BR/><BR/>I wonder if they have any savings . . .<BR/><BR/>I wonder if they have any siblings more like. These 2 morons should be the next poster child(ren) for the pro-Eugenics movement!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-15091637893315722012008-04-02T01:24:00.000+01:002008-04-02T01:24:00.000+01:00I'm happy this is happening to them, & I hope they...I'm happy this is happening to them, & I hope they spread the word. Corvette? Gardener? $10,000 / month expenses? That is called living way beyond your means. Way beyond. Absolutely no savings cushion for emergencies. How about just savings for savings sake? That guy looks like he is over 50. Didd he ever plan to retire? I got news, jackasses, stocks don't always go up. What morons. I live in Newport Beach and see this all around me. I'm glad to see these people get slammed with some reality. Get new jobs; work for a living. BTW, trading in a Corvette for a Suburban was hardly enough. They should have gotten a used Honda with 150k miles on it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-43387603391882798532008-04-02T00:13:00.000+01:002008-04-02T00:13:00.000+01:00Anonymous said... the hell has he been doing with ...Anonymous said... <BR/>the hell has he been doing with his money the last 39 years?<BR/><BR/>Answer:<BR/>Dealing with the payouts from his first marriage (alimony, child support), and then spending the rest giving his new trophy wife the OC lifestyle she demanded. (Gated community house with ocean view, jewerly, designer clothes and hangbags, mercedez, 4 star vacations, best restaurants, parties to show off their bling to the other OC royalty).<BR/><BR/>I can imagine the reason Mysti can't work is because thousands of other trophy wives like herself are now trying to land jobs back at the stores and restaurants they worked before hooking up with their sugga daddies who are now broke. Include the thousands and thousands of unemployed realtors as well. <BR/>I bet being a single guy with money in the OC right now is like paradise.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-2066888840316222632008-04-01T23:07:00.000+01:002008-04-01T23:07:00.000+01:00On a lighter note...had never eaten Ramen noodles ...On a lighter note...had never eaten Ramen noodles in my life and have seen it referenced numerous times on these posts.So last week was in the supermarket with the wife and saw a prominent sale display of 10 packs for a dollar. Bought four chicken,two beef,two pork,one shrimp and one oriental.<BR/>Had the oriental last night..my first ever ramen culinary experience. Rather bland,tasteless...I'm told the chicken is the number favorite among the "good eaters" and REIC desperadoes, so that's next.LOL!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-66246952094308251252008-04-01T22:57:00.000+01:002008-04-01T22:57:00.000+01:00"Kent estimates the mountainside home in San Cleme..."Kent estimates the mountainside home in San Clemente, Calif., which they bought in 2005, is worth 20% less than it was a year ago. And in the current market, he said he's not sure he could sell it for even that amount."<BR/><BR/>Best line in the article...who is this loser to estimate what the "worth" of the house is...its ONLY worth what a real ready,able buyer is willing to pay right now..like today...like a LOT less than they paid in 2005.<BR/><BR/>Time for them to join the other record 28(!) million Americans on food stamps as reported in the news yesterday and storm the doors of the strained/depleted food banks of the nation.(also in the news)..<BR/><BR/>Is this a great country or what?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-63086377384480720652008-04-01T22:30:00.000+01:002008-04-01T22:30:00.000+01:00She goes from Assistant Store Manager at Giorgio A...She goes from Assistant Store Manager at Giorgio Armani<BR/><BR/>all the way to<BR/><BR/>VP, Ecommerce Customer Service at New Century Mortgage Corporation<BR/><BR/>Love it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-54084892117375658162008-04-01T22:04:00.000+01:002008-04-01T22:04:00.000+01:00Hell, that dude is fifty-freakin nine, he should h...Hell, that dude is fifty-freakin nine, he should have enough to retire, let alone tide him over when he has only been out of work for 8 months. What the hell has he been doing with his money the last 39 years?<BR/><BR/>I am not sure if I will be able to retire by 59(I think I will)but I sure has s&^t will have more than 8 months reserves. I had that when I was 24.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-32216766237769706132008-04-01T21:19:00.001+01:002008-04-01T21:19:00.001+01:00mammoth asks:Any bets on how much longer these two...mammoth asks:<BR/><BR/>Any bets on how much longer these two will remain together?<BR/><BR/>Keith sould start a pool? I'am in for $20.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-39432813527109855492008-04-01T21:02:00.000+01:002008-04-01T21:02:00.000+01:00check it outhttp://www.linkedin.com/in/mystibeachc...check it out<BR/>http://www.linkedin.com<BR/>/in/mystibeachcope<BR/><BR/>She went from being a retail store manager to being a VP of a mortgage company. Multiply her story by 10,000. Thats what they all were.<BR/><BR/>employment history<BR/>Past<BR/><BR/> * VP, Ecommerce Customer Service at New Century Mortgage Corporation<BR/> * Assistant Store Manager at Giorgio Armani<BR/> * KMG Department Manager & Certified Trainer at Harris' Department StoreGeekocasterhttps://www.blogger.com/profile/12517799493034525872noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-78783644077996619212008-04-01T20:47:00.000+01:002008-04-01T20:47:00.000+01:00They failed financial planning 101. They put all ...They failed financial planning 101. They put all their eggs in one basket and have expenses way beyond what they could maintain on one reasonable salary. If they have $10K in expenses, they should have had at least $60K in cash available. If they had any sense they should have put their house up for sale after the first month of failing to find a new job. <BR/><BR/>I have a friend in a similar situation -- small-time developer and can't sell any houses for more than the debt on them. Now, BK is probably the only way out -- yet he's living in a $3M mansion (his comp) on a lake, and is hesitating to sell it. Instead, he's selling everything else that's not nailed down. It's raining. Open the umbrella!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-43223721919164895262008-04-01T20:09:00.000+01:002008-04-01T20:09:00.000+01:00Hey Misti-I'll give you a job, Elliot Spitzer styl...Hey Misti-<BR/><BR/>I'll give you a job, Elliot Spitzer style, and I won't even make you change your name to "Kirstin". <BR/><BR/>If you act now, I will also employ your husband! He can make us a sandwhich, and do some light clean up duty....<BR/><BR/>Call me-<BR/>JackAnonymousnoreply@blogger.com