(Here's a humorous horrible follow-up to Darrell's Detroit foreclosure post)
A mortgage broker couple in New York took quite the hit in a real estate investment. With their houses facing foreclosure, they opted for an interesting alternative to letting them go up for auction: turning it into a brothel.
The couple, Richard Werner and Heather Mezzenga, had moved out of the house about two years earlier and later put it on the market. Originally asking $750,000, the house's price eventually fell to just $600,000 before they decided to try renting the house out instead. Unfortunately, being landlords didn't work out as well as they had hoped (they never listed their house on HotPads.com) and the house soon fell into disrepair... until two weeks ago.
According to a neighbor, all of a sudden "new neighbors" (whom he never saw) moved in, the lawn was mowed, and heavy shutters were installed. Though the residents of the house were never visible, the multitude of cars parked in front of the house at night were hard to miss.
That's when a dominatrix ad posted on Craigslist tipped off the police. According to the police reports, the New Rochelle pair were busted for (allegedly) turning their house in the North End section into a brothel with 4 "employees" aka prostitutes, who were also arrested.
And in all the accounts, what was to blame for their decision? You guessed it: the housing market.
Check out the full story here.
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