tag:blogger.com,1999:blog-33255068.post8913434912853116124..comments2023-11-02T05:18:21.296-07:00Comments on Bakersfield Bubble: More sharks smell bloodBakersfield Bubblehttp://www.blogger.com/profile/12663275045022347451noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-33255068.post-56751283219854727652007-02-26T20:03:00.000-08:002007-02-26T20:03:00.000-08:00"Makes no sense. NFI has no money. They don't even..."Makes no sense. NFI has no money. They don't even need to show up in court - on any sign they are losing they will just BK."<BR/><BR/>Not true. I just ran across some Novastar REO. I wonder if they will accept a lowball (~25% asking) offer in cash... It won't float them long, but I'm sure they aren't in a position to turn down cash.incessant_dinhttps://www.blogger.com/profile/16112787494988405076noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-6109568929252149562007-02-26T13:16:00.000-08:002007-02-26T13:16:00.000-08:00http://forum.brokeroutpost.com/loans/forum/2/97465...http://forum.brokeroutpost.com/loans/forum/2/97465.htm<BR/><BR/>Here is the e-mail I just recieved:<BR/>INTEROFFICE MEMORANDUM<BR/><BR/>To: All Ivanhoe Mortgage Employees<BR/>From: John Cassell<BR/>Date: February 26, 2007<BR/>Subj: Closure of the Ivanhoe Division<BR/><BR/>Over the past several months we have informed you of the struggles Central Pacific has had with retaining adequate cash to fund its operations. Those struggles have continued to worsen and I regret to inform you that the Company is unable to fund the end of month payroll for the Ivanhoe Division.<BR/><BR/>As a result, Ivanhoe Mortgage will be closed, effective today. Funding of Ivanhoe loans will not occur today or in the future.<BR/><BR/>I’m sorry.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-33255068.post-17994981554836052742007-02-26T11:46:00.000-08:002007-02-26T11:46:00.000-08:00It's sending the right signal to the right persons...It's sending the right signal to the right persons. Once these cases go to court, I'm sure there's going be alot of a$$ puckering. This is what needs to happen.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-33255068.post-19447490178596741592007-02-26T09:33:00.000-08:002007-02-26T09:33:00.000-08:00Makes no sense. NFI has no money. They don't even ...Makes no sense. NFI has no money. They don't even need to show up in court - on any sign they are losing they will just BK.<BR/><BR/>Those class action lawyers are struggling even hopeless casesAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-33255068.post-78071684543416160302007-02-26T08:59:00.000-08:002007-02-26T08:59:00.000-08:00Looks like NFI is going to have to take the tarps ...Looks like NFI is going to have to take the tarps off of the lifeboatsJim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.com