38 Studios Employees Stuck With Second Mortgage
 

The Verge is reporting that some 38 Studios employees are stuck with a second mortgage, after being led to believe that the company had sold their previous homes when they moved to Rhode Island.


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Ouch that is ridiculous. I hope they got something in writing.

Yeah, that's just fucking awful. One of my friends was briefly considering going to work for those guys, I'm pretty glad he didn't get the job.

Sad to see a Game Studio Die.

But you gotta admit KOA was damn boring (>>)

What the eff? Who trusts someone else to oversee the sale of a home? I wouldn't.

This has got to be one of the bigger clusterfucks in the history of gaming.

Kingdoms of Amalur was the perfect meld of Fable and Elder Scrolls; I enjoyed every second of it.

This is complete crap of course, but how uninvolved with your financial life and responsibilities do you have to be to just take someone's word that your house was sold and not confirm it for yourself?! You normally need to sign off on sales papers, unless they gave the studio power of attorney to handle the sale for them which sounds unreal.

Yep, my point exactly.

I didn't want to admit it at first, but now 60 hours in and feeling like I've barely scratched the surface at level 18... I have to say yes. It's a big yawnfest. The biggest problem are those damn fae. They bore me to tears.

No kidding. I thought Ion Storm would never be topped, but lo and behold...

Looks like we will be enjoying the news of 38 studios lawsuits for some time.

Curt Schilling found gulity of douchebaggery.

This should not make much to anyone who's ever had a mortgage. How in the fuck do you "not know" that you haven't been released from your mortgage? How do you leave business like that to someone else without following up on it a year later? I'm seriously doubting the veracity of this.

Holy crap, how horrible. So 38 was just making their payments for them since their relocation, or what? If so, no wonder the dumbasses went under. And, if their homes were said to have been sold, did the owners get the $$ for it? If so, if they were smart with their money, they should be ok.
What a strange situation.

Also, KOA sucked. I put about twelve hours into it and was bored to tears after about hour 3. The best thing about it was the random shit NPCs did in the background, like pushups.

Agreed, but, with today's nanny state entitlement society, I'm not surprised.

Non-sequitur

Yeah I ... I have never heard of such a thing.

No I cannot leave it at that. Where did the funds go for the last year? Did none of those relocated employees expect to have turned a profit from their sale, and on the opposite end of the spectrum, did anyone with no equity in their home (Entry-level programmers being young, and all) think how lucky they were to break exactly even on the sale?

Okay, yeah--never heard of anyone like this and I have been relocated for work three times. If anyone knows if this is standard or common or even an on-occasion business practice, please fill me in.

Pretty sad for a game that reviewed fairly well (a steady 80% on metacritic).

I am still enjoying the game, but it's not on par with Elder Scrolls. It IS a shit-ton better than Fable 3, though. And it's epic in scale.

This is actually old school. Companies used to handle your mortgage on a move, most don't even think of it now. For example my company use to, if we went out of business during that period, I wonder if the same fate would have happened? The company is paying the mortgage until it sells. They go out of business they stop paying and now you know exactly what the score is, if they don't it just all magically happens. Oh this sucks no doubt, but I wonder if it is all that different then what a lot of companies used to do with relo's? Could also have cost them a pretty penny and bit part of their collapse.

Like that time I got to the 3rd or 4th area and had about a million gold and then some guy gives me a quest to polish his silver and sell it for 50g if I do? w00t! Or that time I took down that boss and got an item that was worse than the one I crafted 20 levels ago? Like that time I had to turn my controller upside-down just to get the smallest amount of challenge out of combat? The guy from My Left Foot could rock Amalur on Hard for fucks sake.

This is unfortunate. As many have said, I wouldn't be so aloof with my finances.

Well, with $100 million from the taxpayers, who's counting cost? I'm sure the taxpayers are happy the governor's been investing their money for them... and losing all of it.

Agreed. I'm having a hard time being sympathetic. What about all the employees who weren't stupid? We don't hear about them.

Totally agree. I mean it's shitty situation, but I would never trust something like that to my employer. No matter who it was. That's just asking for trouble.

Yup. The gameplay was good if a bit easy. The story was boring and after awhile I just skipped the all the talkly bits.

What bloody idiot would let their employer sell their home!?! If you aren't at the close yourself, you deserve to get whatever happens to you. Besides, I'm sure some of these people got a cash out (or conversely had to pay cash in). If you didn't get a check or had to deliver one to the agent acting on your behalf, I'd sure as hell be asking some questions.

I liked KoA. It was too easy, though. I want a really hard mode.

I'd do it only if the employer bought the house from me! Haha. Let them sell it on their own liability.

Christ, one mortgage is bad enough in Obama's shitty economy. I can't even begin to imagine the hell of having two to pay for.