Ray's Worst Mortgage Deals: Dying Fathers, Cat Hoarders, and Howie's Fake APR

• 53:16Ray describes a dying father who wanted to extract home equity to open a car wash in Miami while coked out.
• 53:35At closing, the Alzheimer's-afflicted elderly man didn't know where he was; his son kept grabbing his hand to sign the papers.
• 54:24The closing attorney expressed discomfort and warned this would come back to haunt them, but Ray told him to get back inside.
• 55:11Ray admits the father was going to die and his son would take the money regardless—it was going to happen with somebody else anyway.
• 55:46The Hooks, an elderly white couple living a block from Monifure Medical Center with 18 dying cats and a fly strip in the kitchen.
• 56:07The veteran husband lit himself on fire; his wife offered to sign anything without reading documents.
• 56:35Monifure offered the Hooks a million dollars for the house, but they held out for more money.
• 57:17Ray couldn't close the deal because the house was deemed unlendable due to fire damage and other problems.
• 58:01Both Hooks died within two years after Monifure dropped their offer to $250,000.
• 58:57Howie was a shady closing facilitator who told buyers to ignore fees and meet him on the front lawn before closings.
• 59:51When asked what APR meant, Howie claimed it stood for "average person rate" and told buyers their rate was better than average.
• 1:00:26Ray's firm hired a sandwich delivery kid from Sue Johns Deli to sell mortgages after he said he spoke Spanish.
• 1:01:14The 24-year-old company owner used to sell ecstasy until his attorney told him he'd face jail time under Rockefeller laws.
• 1:02:02Ray entered the mortgage business in 2005-2006 but stayed through 2009-2010, working government loans after the crash with all the fun gone.

HowieThe HooksFreddie MacFannie MaeMonifure Medical CenterSue Johns DeliBrooklynVietnamAtlantic CityLong Island