Youwalkaway.com claims that they help people be informed of their rights, and help them stay in their house "without paying" for up to a year. So how does youwalkaway.com profit? Hmmmm.....
1. Set up website informing borrowers of their rights to stay in a home being foreclosed on
2. Take calls from people who already can't make ends meet
3. ?????
4. Profit!
Doesn't seem like a sustainable business to me - just another cycle of the wolves feeding on the sheep.
This might be a marker that we can watch to know when housing is due to turn around. The day someone says, "I know my house has lost most of its value, but I'm just not sure about this jingle mail thing" and a coworker says, "Of course you should just walk away. It saved my marriage"; that's the day I know it's time to jump into housing with both feet.
Step 1: Identify fools. (for example, people who purchased housing beyond their means).
Step 2: Find out how fools are being separated from thier money (by making paymen ts on a house that they are going to lose anyway).
Step 3: Create a product that gets in the way of that money flow (I suspect lawyers are a useful resources in this step).
Step 4: Profit!
Step 1: Identify fools. (for example, people who purchased housing beyond their means).
Step 2: Find out how fools are being separated from thier money (by making paymen ts on a house that they are going to lose anyway).
Step 3: Create a product that gets in the way of that money flow (I suspect lawyers are a useful resources in this step).
Step 4: Profit!
Very Nice!
Plus if we follow this train of thought to its logical conclusion:
1) take the above business method & file a business method patent (ignore prior art)
2) identify businesses models that separate fools from their money.
3) enforce the patent IP against one or more alleged infringers (once again lawyers will be a useful resource in this step).
4) Profit!
Comments
Youwalkaway.com claims that they help people be informed of their rights, and help them stay in their house "without paying" for up to a year. So how does youwalkaway.com profit? Hmmmm.....
1. Set up website informing borrowers of their rights to stay in a home being foreclosed on
2. Take calls from people who already can't make ends meet
3. ?????
4. Profit!
Doesn't seem like a sustainable business to me - just another cycle of the wolves feeding on the sheep.
Lanny
http://money.cnn.com/2008/02/06/real_estate/walking_away/index.htm?cnn=yes
This might be a marker that we can watch to know when housing is due to turn around. The day someone says, "I know my house has lost most of its value, but I'm just not sure about this jingle mail thing" and a coworker says, "Of course you should just walk away. It saved my marriage"; that's the day I know it's time to jump into housing with both feet.
Get ready to check your spam bins for youwalkaway copy cats springing up like mortgage brokers at an open bar.
This suggests a way to generate business plans.
Step 1: Identify fools. (for example, people who purchased housing beyond their means).
Step 2: Find out how fools are being separated from thier money (by making paymen ts on a house that they are going to lose anyway).
Step 3: Create a product that gets in the way of that money flow (I suspect lawyers are a useful resources in this step).
Step 4: Profit!
I never stopped and considered how easy it might be to find fools. So now I present a new challenge. How do you identify the Greater Fool?
Very Nice!
Plus if we follow this train of thought to its logical conclusion:
1) take the above business method & file a business method patent (ignore prior art)
2) identify businesses models that separate fools from their money.
3) enforce the patent IP against one or more alleged infringers (once again lawyers will be a useful resource in this step).
4) Profit!
Spend it on a lawyer instead.