Greg Roach's Berkshires Blog
Sunday, November 18, 2007
  Fallen by the Wayside?
What ever happened to the rumored investigation of the real estate dealings of North Adams' newest slumlord?

The last I heard, several months ago, there was a request to look into the alleged inflated appraisals and refinancing of the properties. It would strike me that local and state officials would be eager to exploit the atmosphere created by the national sub-prime mortgage mess. This particular series of sales and purported subsequent equity fraud would seem to be easy pickings.
good question....the borer's have fucked over a lot of people.....
Those of us who read the legals will have noticed that a certain property by a certain landlord is being foreclosed upon. My guess is that it won't be the last. We're looking into it. Regarding the investigation, with the holidays coming up, don't look for a lot of action, but who knows? I've certainly been wrong before.
like in today's editorial....only one church has been sold and that was a private sale...the clark biscuit hasn't even been sold yet

I heard two variations of the same rumor back at the end of summer: The local folks had asked the AG (or the State Police) to look into the transactions which reportedly sucked out the inflated equity from the recently purchased properties.

By borrowing more than the properties were/are actually worth, the owners might profit, even in default. Was this a case of speculation gone bad, or flat out thievery?

To do the story justice, someone would have to hang out at the register of deeds and possibly hire an independent property assessor to examine the documents. ....Time and money - Things that nobody seems to have.
Only the tip of the iceberg. Where there is a lot of smoke being blown up peoples ass there is usually a roaring bonfire burning in the background! Do I smell JAIL TIME?
boycott the chamber of commerce holiday party at stepples restaurant.....

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