Thursday, August 21, 2008

A Real Estate Limerick

I once bought a condo, expensive and small
With a 70s lobby and green rugs in the hall
Retired old couples lounged by the pool.
My kids and I struggled with all the rules.
No floats in the water, don't walk on the grass.
We tried to keep quiet but I felt like an ass.
They were just kids who wanted to play.
I hated the laundry so far away.
But I owned my space with the adjust rate loans
The rooms stayed small but the payments all rose.
I hit rock bottom and sought professional advice.
The pro examined my budget and said "no dice."
I paid too much for housing and had to get out.
I wrote to my lenders and felt like a lout.
The market had tanked but Ken listed it for sale
I owed more than it was worth but needed to bail.
We lowered the price and the offers came in.
But the lender threatened foreclosure and refused to give in.
Negotiations fell through and then came back to life.
Lawyers got greedy and caused so much strife
But I let it all go and the closing went through
I breathe easier now and feel grateful, too.
I'm a happy renter learning how to make the right choice.
Spend and sign wisely and listen to my inner voice.
Housing crisis stories are in the news every day.
I hope that the unscrupulous brokers will all go away.
I take responsibility for my role in this mess.
But are the root industry issues really being addressed?

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