Exhibit 99.2

[American Home Mortgage Investment Corp. Logo]

FOR IMMEDIATE RELEASE
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      American Home Mortgage Investment Corp. Provides Update on Liquidity

MELVILLE, N.Y.--July 31, 2007 - American Home Mortgage Investment Corp. (NYSE:
AHM) today reported that it is working diligently to determine how best to
resolve the liquidity issues that have recently developed with respect to its
business. These issues are primarily the result of the unprecedented disruption
now occurring generally in the secondary mortgage market.

American Home Mortgage noted that this disruption has fueled concerns in the
market regarding credit risk, causing many market participants to suspend the
purchase of loans from a variety of originators including American Home.
Accordingly, American Home is currently experiencing a hindering of access to
its traditional credit facilities. Additionally, American Home's lenders have
initiated margin calls in response to the decline in the collateral value of
certain of the Company's loans and securities held in its portfolio. The Company
has received and paid very significant margin calls in the last three weeks and
has substantial unpaid margin calls pending. Further pressure on the Company's
liquidity presently exists due to its warehouse lenders effectively reducing, in
this environment, their advance rate on new loans made by the Company.

Based on the foregoing, the Company at present is unable to borrow on its credit
facilities and was unable to fund its lending obligations yesterday of
approximately $300 million. It does not anticipate funding approximately $450 to
$500 million today.

American Home Mortgage emphasized that it is seeking the course of resolution,
in this environment, that is least disruptive to its business and to the many
thousands of home buyers to whom it has committed to provide mortgages. The
Company has retained Milestone Advisors and Lazard to assist in evaluating its
strategic options and advising with respect to the sourcing of additional
liquidity including the orderly liquidation of its assets.

This news release contains "forward-looking statements" that are based upon
expectations, estimates, forecasts, projections and assumptions. Any statement
in this news release that is not a statement of historical fact, including, but
not limited to, earnings guidance and forecasts, projections of financial
results and loan origination volume, expected future financial position,
dividend plans or business strategy, and any other statements of plans,
expectations, objectives, estimates and beliefs, is a forward-looking statement.
Words such as "look forward," "will," "anticipate," "may," "expect," "plan,"
"believe," "intend," "opportunity," "potential," and similar words, or the
negatives of those words, are intended to identify forward-looking statements.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that are difficult to predict, and are not guarantees of
future performance. As a result, actual future events may differ materially from
any future results, performance or achievements expressed in or implied by this
news release. Specific factors that might cause such a difference include, but
are not limited to: American Home's limited operating history with respect to
its portfolio strategy; the potential fluctuations in American Home's operating
results; American Home's potential need for additional capital; the direction of
interest rates and their subsequent effect on the business of American Home and
its subsidiaries; risks associated with the use of leverage; changes in federal
and state tax laws affecting REITs; federal and state regulation of mortgage
banking; and those risks and uncertainties discussed in filings made by American
Home with the Securities and Exchange Commission. Such forward-looking
statements are inherently uncertain, and stockholders must recognize that actual
results may differ from expectations. American Home does not assume any
responsibility, and expressly disclaims any responsibility, to issue updates to
any forward-looking statements discussed in this news release, whether as a
result of new information, future events or otherwise.

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CONTACT:

Mary M. Feder
Vice President, Investor Relations
(631) 622-6469
mary.feder@americanhm.com