The million-dollar brownstone that no one owned

We know — or sort of vaguely grasp, or willfully ignore, or try to forget — the general story of the housing bubble. But what happened to “all the single mortgages that were bought, bundled, divided, sold, rebought, rebundled, redivided, resold, etc.” in the years leading up to the 2008 housing crisis? With the help of a Lawyer Friend (“LF”), Cole Hawes Louison digs into the twisted, bizarre story of how one particular brownstone with an “extraordinarily clouded” title turned into a million-dollar ATM.

Source: The Outline
Published: Aug 15, 2018
Length: 30 minutes (7,558 words)