rant · moment 9 of 22
Buying the Long Island House and Phil the Lounge Singer Losing the Cat
from Life In The Bloodbox · #26
Audio-only archive episode — no video to seek.
4 minTim tells the story of buying his underwater 2007 Long Island house with a 106% mortgage, his mother's mentally ill friend Phil moving in, and the infamous story of Phil losing a friend's cat.
- 23:42Tim bought a house on Long Island in 2007 with a junk mortgage financed at 106 percent, then walked away from it during the crash.
- 24:22Phil, a lounge singer Tim's mother met in a mental institution, rented a room downstairs and paid from social security.
- 25:00Tim asked Phil to watch a friend's cat with one simple instruction: don't open the door.
- 25:17Phil lost the cat within an hour, opening with the first three words: 'lost the cat.'
- 25:43Tim confronted Phil about why he's living in a foreclosing house with a 22-year-old cocaine addict landlord whom he met through someone from the mental institution.
- 26:19The house he bought for $630,000 lost more than 50 percent of its value and never recovered.
- 27:01Tim told his friend Brian he was buying a house that day while smoking weed driving toward Long Island, and Brian just responded 'you're doing good.'
PhilLong IslandLehmanJim