it's quiet out there!

well, it's the dog days right?! and it's been so very quiet at this blog, but i've yet to invite the entire "big list" as i was afraid news would filter to sun1031.

at this point since we all seem dead, i'll soon be inviting that list and we'll see what happens.

one thing that infuriates me is that, personally, i was sold a bill of goods thru a Prudential broker, that didn't measure up to what was told to me. i'll be addressing that in a later post.

another thing is that Sun1031 acting like in the beginning that they were "partners" with us, etc.

but when some of us asked for appraisals after we bought, they would not give them up calling them proprietary [meaning: a party who exercises private ownership, control or use over an item of property]. hmmm, where's that in our contracts?

RED FLAG on true value, or as SUN1031 calls it "market value".

now, you'd think owners in a property (& for those of us with a bank note) that SUN1031 or the bank would easilly show the appraisal that backed the loan.

goes to show you there HAD to be shenanigans between SUN1031 & the bank, First Bank Of Beverly Hills (FBBH) which has FAILED and who presently is under the auspices of the FDIC.

we've asked the FDIC to let us buy out our loan at a discount just as they WILL do in the future to an investor. they have stymied us on that, so we are now strongly considering not paying the bank note to try & gain leverage.

REMEMBER: these are nonrecourse loans – which btw, banks don't write anymore – which means nonpayment does NOT go against personal credit or personal assets besides the property in question.