tag:blogger.com,1999:blog-12703782.post4474980792355299136..comments2020-04-11T03:30:02.282-05:00Gary R. Welshhttp://www.blogger.com/profile/15185079937305083438noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-12703782.post-67637522060893229492010-06-19T10:52:24.339-05:002010-06-19T10:52:24.339-05:00Leesa, he probably got those mortgages due to inflated appraisals that used to be common up until a few years ago. Plus the house was probably worth substantially more then.<br /><br />Regardless, he can&#39;t sell the house for less than the mortgages without getting the lenders&#39; permission to do a short sale.Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-4514146842815496212010-06-19T10:46:52.208-05:002010-06-19T10:46:52.208-05:00DI,<br /><br />Listing a house for twice what it&#39;s worth isn&#39;t a &quot;scam.&quot; The free market will take care of that.<br /><br />The &quot;scam&quot; is that this asset isn&#39;t frozen to be used to pack back the investors who got ripped off.Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-81129144228343452392010-06-19T10:20:39.848-05:002010-06-19T10:20:39.848-05:00Leesa, I&#39;d say there *has* to be some equity in the house, at least to the extent that the line of credit isn&#39;t drawn on. The bank surely included a limiting advance rate on the line as well. Given all the revelations we&#39;ve seen, maybe the equity portion came from Fair. <br />Doesn&#39;t mean he&#39;s not in default, though....Rob Ahttps://www.blogger.com/profile/12757358441744652202noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-11203376214736489682010-06-19T10:18:47.439-05:002010-06-19T10:18:47.439-05:00Leesa, I&#39;d say there *has* to be some equity in the house, at least to the extent that the line of credit isn&#39;t drawn on. The bank surely included a limiting advance rate on the line as well. Given all the revelations we&#39;ve seen, maybe the equity portion came from Fair. <br />Doesn&#39;t mean he&#39;s not in default, though....Rob Ahttps://www.blogger.com/profile/12757358441744652202noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-16285295691248016382010-06-18T23:35:48.362-05:002010-06-18T23:35:48.362-05:00Personally I think this is just another of Durham&#39;s sick games. As of WISH TV&#39;s last accounting he owed Shelby County Bank $3.5 on a first mortgage with a secondary line of credit of $1.5M. Do the math--there is no equity in the house and so why would he pay? He is probably in default.<br /><br />Someone needs to call the bank examiner for Shelby County to audit this group of losers loans--you have to think they are all in default, which begs the question of why Shelby has not tried to do anything such as prosecute Durham for mortgage fraud.Leesahttps://www.blogger.com/profile/06305332396047884687noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-26287374420505973072010-06-18T22:30:33.326-05:002010-06-18T22:30:33.326-05:00So Timmy&#39;s still working his scams, now by putting his house on the market for twice what it&#39;s worth.<br /><br />Are we surprised?Downtown Indyhttps://www.blogger.com/profile/06239811599722585898noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-74455913287438735432010-06-18T21:09:08.292-05:002010-06-18T21:09:08.292-05:00Makes me wonder just who is the trustee that &#39;failed to mention&#39; this real estate?Marycatherine Bartonhttps://www.blogger.com/profile/14674049191412285346noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-20004352275182605732010-06-18T19:16:38.154-05:002010-06-18T19:16:38.154-05:00How about:<br /><br />http://www.zillow.com/homes/14353-113TH-ST,-46040_rb/<br /><br />Assessed for about 2.5 million<br /><br />Water company stole that land from the farmers who owned it. Of course, we all took it from the Miami Indians,s o what goes around comes around.Unigovhttps://www.blogger.com/profile/15532072215831286109noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-75377404676825907272010-06-18T19:09:27.086-05:002010-06-18T19:09:27.086-05:00WISH has always had &#39;connections&#39; with Durham. Remember when he took delivery of the infamous Veyron sports car? WISH was there at the house as it came off the truck.Bart Lieshttps://www.blogger.com/profile/01294734264133374462noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-11090591405908527592010-06-18T16:52:40.866-05:002010-06-18T16:52:40.866-05:00Wow, WISH-TV scooped somebody?Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.com