You're Broke Busted Bankrupted & Foreclosed

You're broke, busted, bankrupted and foreclosed.
You missed another house payment again, Oh no.
Your credit's screwed up real bad
Your FICO score's just been had
You're broke, busted, bankrupted and foreclosed.

You're broke, busted, bankrupted and foreclosed.
It was in the Daily News, now everybody knows.
Your straight loan just got bent
Your Mercedes has a big fat dent
You're broke, busted, bankrupted and foreclosed.

You lied on the loan app, said you earned
A good deal more money than you burned.
Your home equity was not equipped
With a safety valve to keep from being stripped
You're broke, busted, bankrupted and foreclosed.

The certified letter arrived in the mail today.
You signed for and read all that the court had to say.
The sheriff's coming and evicting you,
In five days the house becoming due.
You're broke, busted, bankrupted and foreclosed.

When the bank told you that you couldn't refinance.
You'd lose your house and you messed up a good pair of pants.
The casino took the last house note.
You could have thrown it in a ditch or moat.
You're broke, busted, bankrupted and foreclosed.

That subprime loan you took put you in hock.
Now your out in the street because of payment shock.
Your A. R. M. has just ballooned,
Your all out of options, alibis and tunes.
You're broke, busted, bankrupted and foreclosed.

You defaulted big time on your high rate loan.
The divorce lawyer took the note this month, you moaned.
The loan underwriter doesn't care.
Looks like you'll never restore your hair.
You're broke, busted, bankrupted and foreclosed.

Predatory lenders inflated and converted your fixed rate debt.
Seems the only thing that your going to have left,
Is a loan with some risky features,
Perpetrated by unscrupulous creatures,
You're broke, busted, bankrupted and foreclosed.

The mortgage broker got you a teaser rate,
Little did you realize that your awaiting fate
Was that you soon would lose your house,
Creditors crawling in your hair like louse.
You're broke, busted, bankrupted and foreclosed.

The mortgage financing you took out was a complex transaction,
Left you lying in the bed like your legs were in traction.
The lender controlled the new loan terms
Which hurt you just like first degree burns
You're broke, busted, bankrupted and foreclosed.

You didn't know what kind of loan you'd qualify for
When you walked in the mortgage broker's door.
The loan was packed with undisclosed fees,
Padded till it made you fall to your knees.
You're broke, busted, bankrupted and foreclosed.

You looked just like another credit strapped borrower,
Desperate for a loan to make you life sorrower.
You had low payments for about two years
Your loan exploded and all you had were tears.
You're broke, busted, bankrupted and foreclosed.

Freddie Mac. Fannie, Ginnie Mae together in bed will lie.
Assure that you can refinance when your rates rise.
But the loan origination fee
Spelled disaster when the time came for you to plea
You're broke, busted, bankrupted and foreclosed.

The loan service has forced your payments into default
Like a million other mortgages that couldn't halt
Susceptibility to the foreclosure rescue scams
That cost you your house that ended up in hell and damned.
You're broke, busted, bankrupted and foreclosed.

The yield-spread premium was a way to pack your loan
With a payoff to the broker that soon was blown
By the watchful FBI,
The lenders cash bonus a RESPA sock in the eye.
You're broke, busted, bankrupted and foreclosed.

Mortgage brokers originate two-thirds of sub-prime debt
Look for fools, caught like shrimp in a net.
When they tell you that your creditworthy
Their just being down and dirty.
You're broke, busted, bankrupted and foreclosed.

A crooked broker has direct incentive
To become a criminal that's become inventive
By steering you towards a higher rate
Knowing that your payments will always be late.
You're broke, busted, bankrupted and foreclosed.

Higher interest means more money for the broker
That grabs your neck and tugs just like a choker.
Policymakers they say are concerned
That the homeowners are getting burned.
You're broke, busted, bankrupted and foreclosed.

Compensation is based on making the loan
That soon your hard earned money is thrown
Down the toilet to a crooked lender
Who has found, in a sucker, more legal tender.
You're broke, busted, bankrupted and foreclosed.

When the lender sells your home to an investor
You'll soon find the investor will soon pester
The lender for premiums for subprime securities
That lenders payoff from packed fees.
You're broke, busted, bankrupted and foreclosed.

The mortgage you once thought was unobtainable
Was made by a crooked lender who convinced you that it was sustainable.
Payment shock made you anxious and panic
And your credit sank like the Titanic.
You're broke, busted, bankrupted and foreclosed.

When your introductory rate has just expired
Your house note explodes and sets your bank account on fire.
If you had pursued sound underwriting
You wouldn't be check kiting.
You're broke, busted, bankrupted and foreclosed.