BooksBarbecue
Back The House Party
Chapters (57)
  1. Cover
  2. Dedication
  3. April 2008
  4. 1
  5. 2
  6. 3
  7. 4
  8. 5
  9. 6
  10. 7
  11. 8
  12. 9
  13. 10
  14. 11
  15. 12
  16. 13
  17. 14
  18. 15
  19. 16
  20. 17
  21. 18
  22. 19
  23. 20
  24. 21
  25. 22
  26. 23
  27. 24
  28. 25
  29. 26
  30. 27
  31. 28
  32. 29
  33. 30
  34. 31
  35. 32
  36. 33
  37. 34
  38. 35
  39. 36
  40. 37
  41. 38
  42. 39
  43. 40
  44. 41
  45. 42
  46. 43
  47. 44
  48. 45
  49. 46
  50. 47
  51. 48
  52. 49
  53. 50
  54. Author’s Note
  55. Acknowledgments
  56. About the Author
  57. About the Publisher

“They’re mortgages.” Ted shrugged. “We don’t keep them on the books too long.”

“A lot of those mortgages aren’t what you think,” Adil pressed him. “They’re subprime, issued without income verification. They’re based on these low rates that balloon after a few years. And it works as long as the real estate market is up. But the party won’t last forever. Ask Aneeta—when she first started buying up foreclosures, she had to take what she could get. Now she has her pick of the litter. Buyers can’t keep up. They’re losing their homes left and right. And no matter how complex your investment vehicle is, at the end of the day, the income streams depend on people paying their mortgages. Or not.” Adil shook his head. “You guys are so far in over your heads, you can’t even see the tsunami coming for you.”

Adil sounded a little worked up, and Maja tried to meet Ted’s eye, to signal that it might be time to let them go to bed. But Ted was staring at the table, frowning.

“Well!” said Aneeta, standing up suddenly. “Enough work talk for tonight. Who’s ready for dessert?”

“Me!” Maja said, relieved. She suddenly wanted the night to be over. Everyone seemed to have had one drink too many, and what had started as a fun evening had begun to make her feel uneasy. With everything that had happened this week, the last thing that Maja needed was for Ted to be even more preoccupied with work. Adil seemed to think that something very bad was about to happen, and Ted, Maja noticed, hadn’t said much to contradict him.

13

Will had both of his windows open, and an old box fan shoved into one was doing its best to push the warm air around the room. It had been one of those spring days that seem to get hotter as the night goes on, a taste of the summer to come. He lay in the semidarkness, the nearly full moon illuminating the window.

The fan sat uneasily in the window frame, and its rhythmic whirl-whirl-tap as it vibrated against the screen kept time with Will’s thoughts, which had cycled through his head in an unsatisfying loop since the night of the party. It was only Wednesday, but it felt like a lifetime since Friday night.