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Pastimes : Where the GIT's are going -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (170477)	12/1/2008 5:06:53 PM
From: Ken Adams	Read Replies (1) \| Respond to of 225578

That's a sad story and I'm sorry for both you and your long time client. My own Sweet Shirley finds herself in a growing money crunch with her investments down so sharply she's having to revamp her 2009 plans rather drastically and is looking at some alternatives, including a reverse mortgage. Does anyone know good and bad about a reverse mortgage?

To: Augustus Gloop who wrote (170477)	12/1/2008 5:11:55 PM
From: Alan Smithee	Read Replies (1) \| Respond to of 225578

Sorry to hear that Gus. Times are tough and, as you note, are gonna get tougher.

To: Augustus Gloop who wrote (170477)	12/1/2008 6:51:49 PM
From: Neeka	Read Replies (1) \| Respond to of 225578

Won't the govt help him out here? I guess you have to be a big shot ceo to get any help from them? Yeah...........that's it.............big shot ceo. I am so sorry for your friend.

To: Augustus Gloop who wrote (170477)	12/1/2008 9:14:08 PM
From: KLP	Read Replies (1) \| Respond to of 225578

That is just so sad, Gloop! How did he have such a financial disaster happen? What function did he work in commercial R/E --did he finance the projects?

To: Augustus Gloop who wrote (170477)	12/1/2008 9:17:26 PM
From: KLP	Respond to of 225578

dup....That's what I get for talking to my DIL while I'm composing...<ggg>

To: Augustus Gloop who wrote (170477)	12/2/2008 10:58:26 AM
From: Oral Roberts	Read Replies (2) \| Respond to of 225578

Same thing happened up here with the Goldridge Group. This is interesting though because they were making their payments and are current. But because of the market they are upside down with all of their developments and such so the bank is calling the loan. I don't understand why you would call someone that is current on payments just because they are upside down. Seems to me you've now guaranteed yourself a write down where as there was a chance you would get all your money back with the original borrower. Doesn't make sense to me. Sorry about your friend. As you note though this isn't over yet.