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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (84808)8/12/2007 10:18:04 AM
From: Jim McMannisRead Replies (1) of 306849
 
It's pretty simple.

Lamestar says that LEND misrepresented their condition and wants out of the deal.

LEND says they didn't and will sue. LEND probably knows if they can't force the deal they are BK. So they are suing.

Apparently the deal was fairly iron clad and Lamestar had to wait until the market deteriorated to the point where they thought it was a good time to bail.
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