UPDATE 9-12-12:Jones homes were bought by her bank lenders yesterday at auction with credit bids. See Forced to Vacate story. New Canaan real estate titan Ruth Jones lost her motion to halt the bankruptcy auction on five investment properties and her primary home of sixteen years. Last week Judge Shiff in Bridgeport, Conn. Federal bankruptcy […]
Continue25 Aug
New Canaan Town Council Encouraged to Talk Pension Vote Off Record
UPDATE 8-28-12: A copy of Jeb Walker’s letter to New Canaan officials telling them how he will payback the pension is attached at the end of the story. UPDATE 8-30-12: Two days after Walker’s letter was published here the New Canaan Advertiser reports First Selectman Mallozzi now says it’s up to the town, not Walker, […]
Continue7 Aug
Community Banks force New Canaan Realtor to Liquidate: Six Prime Homes Ordered for Auction
A top New Canaan real estate agent who tried to use a reorganization bankruptcy to save about a dozen of her investment properties in Fairfield County, CT is close to losing her battle with her bankers. After three years of fighting upstream in Bridgeport, Conn. federal bankruptcy court, Judge Shiff ruled last month against Ruth […]
Continue31 Jul
San Bernardino County Voters Can Still Dissolve Eminent Domain JPA
I am on finance TV show the Keiser Report today reporting from So-Cal’s Inland Empire about a private finance firm, Mortgage Resolution Partners, using San Bernardino County’s CEO Greg Devereaux as their guinea pig in a controversial eminent domain housing plan. A plan never attempted before that could effect future borrowing rates hurting local homeowners […]
Continue13 Jul
Did San Bernardino County Violate California’s Brown Act in Eminent Domain Talks?
This story has been updated with comments from San Bernardino County Groups that represent the interest of mortgage bond investors have been caught off guard by a move San Bernardino County, Ca might make to use eminent domain to buy underwater mortgages with the help of wealthy private investors and a San Francisco based venture […]
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