Atlanta's FORECLOSURES

[pawelra]

When are the foreclosures gonna stop???
Recent foreclosures were/will be (that's the major ones);
1.Mansion at Peachtree
2.Allen Plaza
3.Mandarin Oriental
4.Trump Towers---in march ??
5.Aquarius Tower---the website has been canceled so I assume that the project was canceled as well.
6.CityPlace at Buckhead

[Chris Creech]

Here's the story about the Trump Foreclosure.

http://www.11alive.com/rss/rss_story...storyid=140767

[cybele]

Well who's picking up the tab for all these wild loans that never got off the ground and/or just went into some giant foreclosure thing. I'd wager it comes back on the working man as usual.

[Pessimistic Observer]

it already has come back on the working man a chain of events from the small banks that made the initial loans going belly up to the big banks not loaning to anyone. to a flood of construction workers in the unemployment tubes and finally the vacant lot eyesores left from unfinished/unstarted projects. I doubt anyones learned a lesson so we'll see this happen again in 10 years boom and bust baby

[cybele]

Well the big banks and fat cats got bailed out with the working man's dollar because they are "too big to fail". Meanwhile the middle class gets washed down the toilet. Real estate developers can walk away from tens of millions of dollars in mortgages and they are just smart businessmen, but let the little man fall a few payments behind and he's a worthless bum who deserves to be thrown out on the street. But don't get me started.

[cybele]

Well I was just reading about this vertical prison thing that won some big skyscraper battle and maybe it might be a good way to use these buildings that are going into foreclosure, at least till the markets picks back up?

Vertical Prison

[echinatl]

That prison thing is awesome and scary as hell at the same time. Add Mezzo to the list.
http://atlanta.bizjournals.com/atlan...5/daily14.html

[Stuart]

You must be able to find a trustworthy company. Confidence and trust is the key to a successful venture. There must be a clear understanding of the transactions that you will have to undergo before selling the property. It is highly important that, as a homeowner, you are unambiguous with what you want.