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.
 
Comments:
good question....the borer's have fucked over a lot of people.....
ctrem
 
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

ctrem
 
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.....

ctrem
 
Post a Comment



<< Home
A blog of random thoughts and reactions emanating from the bank of a mountain stream in the farthest reaches of the bluest of blue states.

ARCHIVES
May 2006 / June 2006 / August 2006 / September 2006 / October 2006 / November 2006 / December 2006 / January 2007 / February 2007 / March 2007 / April 2007 / May 2007 / June 2007 / July 2007 / August 2007 / September 2007 / October 2007 / November 2007 / December 2007 / January 2008 / February 2008 / March 2008 / April 2008 / May 2008 / June 2008 / July 2008 / August 2008 / September 2008 / October 2008 / November 2008 / December 2008 / January 2009 / February 2009 / March 2009 / April 2009 / May 2009 / June 2009 / July 2009 / August 2009 / September 2009 / October 2009 / November 2009 / December 2009 / January 2010 / February 2010 / March 2010 / April 2010 / May 2010 / January 2011 / May 2011 / June 2011 / July 2011 / October 2011 /



CONTACT:
greg at gregoryroach dot com

"Livability, not just affordability." - Dick Alcombright




My ongoing campaign for North Adams City Council

iBerkshires' Online Event Calendar



Because a Chart is Worth 1000 Words


Source:
Congressional Budget Office data

Powered by Blogger