Take the foreclosure and run

Posted by Paul Jackson on 11/21/08 at 12:59pm

The 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!