The untold story: Foreclosure and the “other woman” in Vegas

Apparently, some married California men had motives other than investment when they purchased luxury condominiums in Vegas.

Naturally, during the good times, these men, being diligent, came out here every few weeks to check on their properties. I am sure they missed their families, but work is work. Now, of course, some of those same owners, despite their diligence, are being forced to let go of those investment properties and occasionally, with the foreclosure, someone is losing a home. Huh?

This weekend I met an unexpected victim of the foreclosure crisis -- one who didn’t want her name used. A longtime Vegas escort, she was living in an apartment when a sugar daddy lured her into living at his investment property rent-free. The arrangement was simply too good to pass up. (You can guess what he took as payment instead.)

Then came the foreclosure crisis. And the thing about foreclosure is that it is a dialogue between banks and owners -- no one talks to residents at properties until the very end. When the owner could no longer keep up the payments on the luxury condo, and the property went into foreclosure, the condominium association gave her a day to get out (she was able to negotiate for a few more days). For now she is staying with a friend, her furniture and belongings piled into the friend’s garage. And she assures me that many others are in her, um, compromising position.