It never started, really, but it’s dead now. Pull your house and start decorating for the holidays.
But not everything is quiet – banks and other creditors are busy filing liens and foreclosing homes. 309 Stanwich, the place where that poor guy checked out in the garage last spring, is now owned by WaMu, or whoever owns WaMu now. Over at 36 Hillcrest Park a disgruntled creditor is suing, claiming a fraudulent transfer (which is when you “sell” your property to someone else in a way that leaves yuu judgement proof), 26 Cedarwood, that burned down place supposedly sold last summer seems to have been a financial work-around. It must not have worked because the bank is back with a fresh lien. 15 MacArthur must not have sold after all – a new lien, etc.
On the commercial ledger, a prominent retail office space on East Putnam Avenue faces foreclosure on a $7.6 million mortgage – ouch, and the Manero’s condos now sport a mechanic’s lien in the amount of $177,000 claimed by the steel supplier. This last may be just a commercial dispute concerning a developer who won’t pay rather than one who can’t, but coming on the heels of yesterday’s accross the board million dollar pricecuts on the units, it doesn’t sound encouraging.
