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Kicking a cat to the curb
I was on a site visit yesterday in Massachusetts, viewing a property where we were lending to the buyer, a real estate investor who is rehabbing the property and will resell to a family once it is repaired.
He is purchasing the property as an approved short sale with a first and second mortgage, so he has put months of work into negotiating the two liens, and the closing date is approaching next week, mandated by the shorting 1st position lender. 
When we arrived the seller was home, packing to move, and was very helpful.  No antagonism or anger, he is simply doing what he unfortunately has to do.  He is moving in with his parents temporarily, in a small apartment in elder housing.
When we went down to see the basement, he warned us not to let the cat out of the basement.  Being an animal lover, I was asking about the cat, because I'm always concerned with animals kept in basements.  The cat was friendly and affectionate, and I petted him a few times.  As we went up the stairs, the homeowner mentioned he had to find a place for the cat by next Tuesday.  Apparently the local shelters are ... more

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