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jmbcomms
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Caravanserai May Be Auctioned Off By the Banks....
      #1538085 - 10/04/13 02:41 PM (98.229.241.121)

Right now I have no more, waiting for a story to come from the island. I'm sure everyone agrees that HOPEFULLY it will be sold in one piece...or as close to that as possible.

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Jeff Berger
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Visiting SXM Since 1978


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Re: Caravanserai May Be Auctioned Off By the Banks.... [Re: jmbcomms]
      #1538092 - 10/04/13 03:13 PM (12.9.88.204)

Ya know. The devils in the details so why post an ambiguous headline if you dont have the facts to back it up. Why not wait until you know what your talking about?

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SXMScubaman
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Re: Caravanserai May Be Auctioned Off By the Banks.... [Re: Anonymous]
      #1538097 - 10/04/13 03:25 PM (75.172.35.44)

Key word in the post title is "May".

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SXMWendell
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Re: Caravanserai May Be Auctioned Off By the Banks.... [Re: jmbcomms]
      #1538120 - 10/04/13 05:46 PM (76.216.122.241)

Yeah, the banks are finally trying to recoupe their money. BUT I doubt they will get an offer/bid of what is owed. So a no sale. Wonder when they will start cutting their losses?

SXM??? Wendell


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Re: Caravanserai May Be Auctioned Off By the Banks.... [Re: jmbcomms]
      #1538197 - 10/05/13 12:36 PM (31.205.23.35)

The banks only need 16 million of the 32 million dollar loan. If the banks arent able to auction it off, they will continue to operate it and reap the profits.

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Re: Caravanserai May Be Auctioned Off By the Banks.... [Re: Anonymous]
      #1538241 - 10/05/13 06:59 PM (76.30.144.63)

Profits, what profits??. Expenses must be crazy high. The Caravanserai owner most likely haven't made any kind of mortgage payments in months and they still can't make it work. It's another island mess that's gonna have a ton of lawsuits and will have the condo owners and lending bank taking a huge loss even if they can find someone willing to buy the place. With all the problems I bet it's not even worth a faction of what is owed or what the bank might take. The bank would never take control and try to operate it and they would never try to foreclose until they know they have a buyer in the bag and that will be a long long long time from now.

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Kennys
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Re: Caravanserai May Be Auctioned Off By the Banks.... [Re: Anonymous]
      #1538242 - 10/05/13 07:21 PM (72.252.9.50)

Quote:

Anonymous said:
Profits, what profits??. Expenses must be crazy high. The Caravanserai owner most likely haven't made any kind of mortgage payments in months and they still can't make it work. It's another island mess that's gonna have a ton of lawsuits and will have the condo owners and lending bank taking a huge loss even if they can find someone willing to buy the place. With all the problems I bet it's not even worth a faction of what is owed or what the bank might take. The bank would never take control and try to operate it and they would never try to foreclose until they know they have a buyer in the bag and that will be a long long long time from now.




Well the Bank is what is running things as of now period.


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Nay
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Re: Caravanserai May Be Auctioned Off By the Banks.... [Re: Kennys]
      #1538259 - 10/06/13 12:22 AM (72.86.147.78)

A shame really....I enjoyed my stay there

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Nay
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