Funny Money Friday: Buy a Piece of Housing Bubble History
Money doesn't have to be boring! Each week, CreditBloggers.com takes a look at the lighter side of the personal finance world in a series called Funny Money Friday.
The housing bubble, mortgage crisis drama is going mainstream. Sure, us credit geeks have been talking about the dangers for years. The Wall Street Journal just published an article this week about how widespread bad loans are across the country calling it a "Subprime Tidal Wave."
In the meantime, an intrepid Countrywide employee has posted their "Protect Our House" bracelet on eBay. The bracelets were distributed to employees who pledged to support the company as part of an internal communication program in the face of media criticism.
A true artifact of the current credit crisis, the bracelet's price has already soared to $167. The auction ends tomorrow. Get your bid in now or buy one of the other 10 bracelets that have now been offered for sale for substantially less. You'll need that extra $100 when you have to refinance your Countrywide mortgage.
Have a great weekend!
Emily Davidson – Credit.com's Communication Director and former TransUnion credit expert. Emily writes about credit reports, credit cards, loans and personal finance as the CreditBloggers.com moderator.
Maybe Countrywide should send those same bracelets to homeowners who are losing their homes because of the horrible mortgages they peddled to them.
Posted by: ted | October 15, 2007 at 09:57 PM
I know they keep calling it a housing bubble and credit crisis but belive it or not this does not affect everyone. Markets go up and down and so does the value of a house. Not everyone is scraping to get by to pay their mortgage. Bad loans will fall on bad times, that is certain. If I had a subprime mortgage, which I don't, I would be trying to sell the house as quickly as possible. Some people should not be living in a house they cannot afford. Avoiding foreclosure is key though so consider all the options like short sale and deed in lieu of foreclosure. Renting may feel like a step backwards but it can also help clean things up that caused the subprime loan to happen in the first place.
Posted by: Jim | October 16, 2007 at 02:52 PM