Look at his red face. He looks like a raging alcoholic horndog, and "Mysti" reminds me of a ferret.
Posted on 03/31/2008 8:19:59 AM PDT by TigerLikesRooster
Careers vanish after subprime 'free fall'
Kent and Mysti Cope were well-paid executives at subprime lenders who never thought the industry could disappear overnight. Now they're just trying to get by.
By Chris Isidore, CNNMoney.com senior writer
March 31, 2008: 5:30 AM EDT
SAN CLEMENTE, Calif. (CNNMoney.com) -- Kent and Mysti Cope met and fell in love working for one of the nation's top subprime lenders. Now, their life has been turned upside down after the sudden implosion of the subprime mortgage industry.
Mysti was one of the last people out the door at New Century Financial, once the nation's No. 2 subprime lender. She had been in charge of e-commerce customer service with dozens of employees reporting to her.It was at New Century where the Copes met in 2000.
Kent worked for several of the firms that helped give birth to the industry, which specializes in making loans to people with less-than-perfect credit, in the 1990s. He has been out of work since August when he was laid off by Friedman, Billings, Ramsey Group (FBR) unit First NLC Financial Services.
"We're still both in shock that it could go from something so good to so bad so quick," said Kent, 59. "New Century in 60 days went from top of the heap to out of business."
(Excerpt) Read more at money.cnn.com ...
Ping!
With the salary they were making they should have saved.
Sorry, they made a heck of a lot of money, and don’t have anything saved?
Stupid is as stupid does.
*BUMP*!
Kent’s trophy bride quickly became an anchor....
Thats what happens when your money isnt worth the paper its printed on.
“Kent ... helped give birth to the industry, which specializes in making loans to people with less-than-perfect credit,”
So he gave birth to the monster that ate him.
Breaks my heart. They ought to go somewhere like Las Vegas where half the homes in most neighborhoods are sitting empty. Get a good deal there.
This 59 yo guy just doesn't getit.
He & his ilk built the castle of sand and now, bitch it's crumbling?
...a 5-Star imbecile.
I don’t believe that Mysti Kent can’t find a job. She should streamline her resume, call headhunters, and look for a job as an executive assistant. She could get a job like that that pays about 80k base, plus great benefits, and bonus. The problem many “executives” have when they lose their jobs is that they walk around with “executive” resumes and wonder why they aren’t getting job swith the titles and salaries they used to have. Since the husband in this case is home anyway (and can take care of the 11 year old after school), Mysti should drop her unrealistic expectations and HUSSLE. There are always jobs out there...as long as you don’t let false pride get in the way.
Kent and Mysti need to sell the Beemer, down-size the house, take the first job they can get and begin working their way up again. And quit whining.
“And they’ve made cutbacks: trading in Kent’s Corvette for a Suburban and getting rid of the gardener, for example.”
Awwww....how sad.
They had to trade in the vette and lose the gardener.
80k? Why not 40k? I am sure she could work if she wanted to. My guess is that there are few executive jobs open for her.
Precisely what I thought when I read it too about the gardener.
And trading in a Corvette for a Suburban isn’t really “cutting back”. Cry me a river.
According to the article they have expenses of $187,200/year. ($450 x 8 x 52). They should be driving a Hyundai, not a Suburban.....that is, if they are serious.
Today, they’re trying to get by on his unemployment benefits of about $450 a week, which covers only about an eighth of the basic payments they owe every month.
Look at his red face. He looks like a raging alcoholic horndog, and "Mysti" reminds me of a ferret.
"What do you want to do for a living when you grow up?""I want to make home loans at high interest rates to people who have no down-payment and can't afford the monthly payments."
"Uh, alrighty then."
Hang in there kids........
I believe O’Bammy will soon announce a “jobs program” for unemployed sub-prime executives.
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