We've Peaked On Foreclosures ! - NOT !!!

[Capricious]

Isn't the Resolution Trust Corp. the entity that entitled us of Sowal to have Point Washington State Forrest? It can't be all bad....

Depends upon who paid for it and how much it cost.




Capricious

"...Can't you understand what's happening here? Don't you see what's happening? Potter isn't selling. Potter's buying! And why? Because we're panicky and he's not. That's why..."

 

[DuneLaker]

Yes. Bad is bad. No matter how many years gloss over the facts. There are consequences to be paid. Road access, alternate routes, neighborhood development, etc. etc. etc.

 

[TheSheep]

I am a kommon kitty. kommon works for me.

Then why the "k", citty?

 

[wrobert]

Isn't the Resolution Trust Corp. the entity that entitled us of Sowal to have Point Washington State Forrest? It can't be all bad....

Yes it is. I believe it allowed the State to buy quite a large amount of land for very few dollars.

 

[TheSheep]

Yes it is. I believe it allowed the State to buy quite a large amount of land for very few dollars.

Righty, right. Our FDIC, and re: the foreclosues in thread, I do not expect the near amount of large land parcels with Alt-A mortgages.

Nonetheless, the new FIRREA is awakening as we march forward with the Fed Final And Awaited, Completely Predictable And Known For Years, Ultimate And Only Conclusion....

the buyout of bad loans and worser paper.

 

[Capricious]

Yes it is. I believe it allowed the State to buy quite a large amount of land for very few dollars.

Someone took a bath; I assume the taxpayers.

And bathe again we shall. And are.



Capricious


"...Can't you understand what's happening here? Don't you see what's happening? Potter isn't selling. Potter's buying! And why? Because we're panicky and he's not. That's why..."

 

[AAbsolute]

The way I understood it Mike Adkinson bought it from St. Joe for 400,000,000 and the RTC forced the ensuing mortgage into default under a theory of pending default.

If the loan was current and there was an interest reserve capable of carrying the note and the government run RTC was able to force it to public sale what do you think the new government run entity will do?

 

[TheSheep]

The way I understood it Mike Adkinson bought it from St. Joe for 400,000,000 and the RTC forced the ensuing mortgage into default under a theory of pending default.

If the loan was current and there was an interest reserve capable of carrying the note and the government run RTC was able to force it to public sale what do you think the new government run entity will do?

Furthering this concept is the lack of sufficient equity (protection), do not know if that is the appropriate leagle eagle schmeal but the idea is that a second mortgagor can require the foreclosure on a home/house real estate asset under CH 11 asset protection if he can determine that there is not sufficient equity to cover debts plus usual selling expenses. Are they any 2nd mortgages that aren't in this shape?

 

[Miss Critter]

Furthering this concept is the lack of sufficient equity (protection), do not know if that is the appropriate leagle eagle schmeal but the idea is that a second mortgagor can require the foreclosure on a home/house real estate asset under CH 11 asset protection if he can determine that there is not sufficient equity to cover debts plus usual selling expenses. Are they any 2nd mortgages that aren't in this shape?

No.

 

[AAbsolute]

I don't know of any banks that would force a foreclosure on a mortgage that is being paid current. . . . . . . .wait. . . . . . .I take that back, I think I might know someone who is paying his note properly in Watersound West Beach who had a Lis Pendens filed against him just today by his lender.