May 02, 2011

Not Even Bail Bond Agents Want Houses as Collateral!

jail cells.jpg

Planning to commit a crime? Wait, that's not a very good way to start a blog entry.

But let's just say you were -- and that you'd foreseen the possibility of getting caught and having a judge set an amount of bail that you'd need to post in order to get yourself out of jail while awaiting trial. (Actually, real criminals never seem to have that much foresight.)

Okay, let's cut to the chase here: A bail bond agent (the one who fronts you the cash to pay your bail) might accept your jewelry, laptop, or boat as collateral, but is likely to turn up his or her nose at your offer of your house. That's according to a recent report in the Wall Street Journal, "Bail Bond Agents Feel Pain of Housing Crash," by Dawn Wotapka.

Not a real good sign for the housing market, is it?