Well, At least I still have my health

Isn't that what we say when other aspects of our lives get messed up? Yep, still got my health and my good looks.

That said, in my next life I want to be rich instead of handsome. I'm down a buttload in the last month with stocks. Frankly, I blame you guys for not listening to me and sticking with the Alzheimers dude.

Now look at your 401K.

Well, that's water under the bridge. I am currently facing a moral dilemma and who better to ask than the fiscally conservative, right wing tough guys on our board? The F your feelings crowd.

I bought a loan in December 2024. 2nd mortgage on a property near USC in LA. The guy hadn't made payments since 4/01/2009. That's 16 years without making a payment on his 2nd mortgage but he has faithfully paid the 1st mortgage.

The UPB (Unpaid Principal Balance) is $119,000.00 and the accrued interest for the last 16 years adds up to $186,112.00

So he owes me $305,000.00 and I paid $77,350 for the loan ( 65% of the UPB).

Much to my pleasant surprise the guy is selling the house and has it listed for $1,100,000.00. I can collect my full $305,000 and pocket $228,000 in profit. Deals like this don't come around too often. Naturally the borrower wants me to cut him a break and forgive some of my interest. He offered me $150,000 as a settlement. I'm inclined to waive maybe $50k but then I think of the bath I took this month with stocks. Who do I call to get a break on that L?

These are called zombie mortgages and are getting pub in the press. There is talk of legislation to make these loans uncollectible. I don't want to be on the news but I also need to capitalize on these opportunities.

Most of the time I have been giving discounts in these situations but right now I'm in a transitional moment.