The Dog Ate my Fixed Rate and now I'm Stuck with this lousy Adjustable One.

The latest cottage industry in the real estate world is web sites targeting distressed homeowners facing foreclosure. In story here involving Countrywide Financial Chairman Angelo Mozilo who provides a cautionary tale regarding that pesky little “Reply to All” button, it would appear that the form letter writing guidance given to homeowners petitioning their lenders entails 3 consistent themes: 1) claiming ignorance/confusion in interpreting the fine print, 2) injury in a physically demanding job implying loss of income and 3) potentiality of suicide.

As the homeowner states, he didn't go to college so web sites like this are a valuable tool in helping achieve that subtle balance between contrived desperation and buck-passing.