hobo =
Home Owner Bought Outit is the acronym for people from 'the Great Depression' who lost their homes when the banks called their loans due (
as per the terms of the loan).
All legal, but totally sucks.
Has come to mean many things, mainly derogatory.
Bank: "Mr. Smith, your loan has come due and we are not able to extend you any more credit."
Mr. Smith: "What
can I do? The plant closed, my kids are sick and my wife ran off with the ex-plant manager."
Bank: "That's not our problem. Leave or the
Sherif will remove you."
Mr. Smith: "Well kids, it's off to the
poor house for you, Daddy's a hobo now."
Kids: Boo, hoo. . . .