Wednesday, July 22, 2009
The St. Regis resort is the famous visitors spot in California is been foreclosed. This is the place where AIG staged $440,000 party, after getting $85 billion federal bailout money, for its salespeople. Wobbly, taxpayer bailed-out Citigroup, is caught with the property.
The resort is situated on the coast in Dana Point, California. It's built in the Orange County, which is the home of many mortgage lenders during the boom period.
Los Angeles Times says that the resort might be of value less than one-third of the $300 million in debt on its books. One asset banker told the paper that: The resort has been disastrously damaged (not because of its own or the previous ownership) by the unnecessary media exposure during the conference held by the AIG.
The resort will be considered as a symbol of the every activity for which AIG and Citigroup are blamed of encouraging - risky bets on fizz real estate.
In the case of the, it's got too much debt to be carried out an unpleasant market for high-end properties. There's a big debate held to know whether the consumers will spend money what they used to do? The proprietor of the St. Regis decided that they cannot afford to wait and find the answer.
Concurrently the Watergate Hotel, view of the famous break-in that has fetch down President Richard Nixon, is also foreclosed this week.
The resort is situated on the coast in Dana Point, California. It's built in the Orange County, which is the home of many mortgage lenders during the boom period.
Los Angeles Times says that the resort might be of value less than one-third of the $300 million in debt on its books. One asset banker told the paper that: The resort has been disastrously damaged (not because of its own or the previous ownership) by the unnecessary media exposure during the conference held by the AIG.The resort will be considered as a symbol of the every activity for which AIG and Citigroup are blamed of encouraging - risky bets on fizz real estate.
In the case of the, it's got too much debt to be carried out an unpleasant market for high-end properties. There's a big debate held to know whether the consumers will spend money what they used to do? The proprietor of the St. Regis decided that they cannot afford to wait and find the answer.
Concurrently the Watergate Hotel, view of the famous break-in that has fetch down President Richard Nixon, is also foreclosed this week.
posted by Avoid foreclosure, We buy houses, Stop foreclosure
@ 2:43 AM
permanent link | Post a Comment
| 0
comments
