Here it comes . . . (no Audi content)

[Mike Arman <armanmik@n-jcenter.com>]

Here's a real-life preview of Y2K - it just happened to me.

I have a rental property which has a balloon mortgage due 8-1-00. Lender's
computer wouldn't take 00 because it thinks 00 is before I bought the
property, so it must therefore be 99.

Got a notice from the computer "Your balloon is now due. Please remit
$67,323.28 by August 1st 99."

After I got my heart started again, I reviewed the loan documents (which
were typed - on a "dumb" typewriter) and verified that the balloon was due
8-1-2000. (Whew!)

During the discussion with the lender, they suggested I send the full
amount, which would satisfy the computer, and they'd then send it back to
me. I won't repeat what I thought about suggesting to them.

Finally got it straightened out, they "agreed" to accept the normal
mortgage payment, and they are "fixing" the computer now. Right. Check with
me next month. Probably show up as a computer-generated foreclosure on my
credit report because I didn't pay the balloon when the computer thought it
was due.

Somehow, I don't think I've seen the end of this.

Best Regards,

Mike Arman