NEW YORK (Reuters) - American Home Mortgage Investment Corp plans to close most operations on Friday and said nearly 7,000 employees will lose their jobs as the lender becomes one of the biggest casualties of the U.S. housing downturn.

Experts said it is likely the Melville, New York-based company will have to seek bankruptcy protection, and no later than Monday.

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"Ml-implode.com is currently under legal attack by a lender trying to drain their limited resources on legal fees with the hope of taking down the site. We believe the Implode-O-Meter is a valuable web resource and see this frivolous lawsuit as a threat to the right of freedom of speech and the right to free discussion forums and blogs on the internet. We strongly urge all of our readers to support Ml-implode.com in their legal battle, by publicizing their struggle and donating to their cause."

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