TOP DRAWER SATIRE

Homeowner Makes Timely Mortgage Payment
by
HL Carpenter

In what’s being heralded as a turnaround for the ailing credit market, a person in Bismarck made a timely mortgage payment last week.

The unidentified homeowner intends to make next month’s payment in full and on time, as well, according to the bank reporting the news.

“Things are looking up,” says a smiling spokesperson for the bank. “If this individual can afford to make a house payment, we’re almost sure others can, too.”

Less enthusiastic market watchers warn against reading too much into the unexpected revelation. They point out that banks and other lenders approved millions of questionable loans worth billions of dollars, and that those mortgage holders have yet to write a check for current payments.

“The fact an actual payment was received is an encouraging sign,” says one expert. “But it may be too early to believe the worst is over yet.”

Originally published November 2007.