An entry below titled “Up to $6.5 trillion in mortgage-backed securities may be in jeopardy. Subprime borrowers may have an escape hatch — no paperwork providing standing to sue!”, got this response from short story writer Philip Zack:
The situation inspired me to write a short story called “As Is” about life after the collapse. It starts like this…
Ryan Svorlin stood in front of the big house, gaping. The keys hung loosely in his shaking hand, clattering against one another in rhythmic reflection of the waves of shock coursing through his troubled mind. “It… it’s… mine,” he stammered, unable to comprehend what had just happened.
“Well, sure,” the real estate lady told him. “You did sign the papers, didn’t you?”
He slowly turned to look at her. Paper-thin skin stretched across unnaturally prominent cheekbones. Overdone make-up. Probably over seventy, he guessed. “Of course. But I never expected to —.”
“To be selected? Well, someone had to be. They couldn’t afford to let these places go vacant, after all.”
Less than a year had passed since the first cannonade in the financial meltdown destroyed the façade of normalcy masquerading as prosperity in the United States. Some faceless blogger had instigated a mortgage strike, an incautious response to the revelation that the reason the government was so determined to protect the masses from being dispossessed in their forced insolvency was the dirtiest little secret at the heart of the country’s high-flying economy – that nobody really owned all those high-risk loans, and therefore the houses could not be foreclosed. No one could have predicted what happened next.
Read the whole thing here:
Filed under: Brainstorming