05.13.2008 / California Man Losing Nine Homes
I have a very hard time feeling sorry for someone who took out 9 negative amortization loans in a failed attempt to capitalize on rising home prices. How is it that stupidity and gambling have recently become synonymous with investing?
I read that article. What a nitwit! Wasted 800k worth of stock options in the process. Of course little attention was paid in the article to the banks who kept allowing him to take out these loans knowing full well his financial situation. A pox on both their houses.