Bank Problems

[SteveO]

I met with a bank that is going out of business and is currently being handled by the fed. It has a number of apartment loans on its books. Some of them are non-performing.

My intent is to get them to open up to me about the loans that they are foreclosing on. Time will tell. During the past couple of months, I have been working on a project with them. It does not look like I have a chance at it as the second lien holder is moving to protect itself. They had filed foreclosure proceedings ahead of the bank while they were evaulating the situation.

It would be nice to have the INSIDERS track on these deals. The bank is in an uncomfortable position. Lots of people are asking them about buying notes at a discount. The trick for me is convincing them that I am not looking at a note discount unless it is warranted. i want to evaluate what makes sense.

 

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[andviv]

O'n puv vjev genomoes xovj vjot tovaevoup, cav...

O ettani vjiz emtu jewi muept xjisi vjiz esi vji gostv moip jumfis. Nezci vjuti esi vji upit vjev xomm qsuwofi vji citv djepdi vu hiv tunivjoph huoph up.

O dep'v tii jux e tidupf moip xuamf jimq og vji ettiv ot puv qisgusnoph epf vjisi ot puv e jahi fotduapv xjip hivvoph vjev upi, tu vji qsuqisvz dep ci dupvsummif gus e coh fotduapv up vji tidupf.

 

[Runum]

TviwiU ceplt op nz esie xomm puv veml vu zua ecuav e TGJ gusidmutasi apvom ov't hupi vjsuahj vji eadvoup. O jewi jef monovif tadditt ev hivvoph qetv vjot. O jewi ciip vumf ov jet vu fu xovj mihemovoit topdi vjiz deppuv pihuvoevi et vji qsuqisvz uxpis apvom vji qsuqisvz dmiest vji eadvoup. Puv tasi og vjev ot e tvevi us gif sih. O jewi vu hiv xsovvip qisnottoup gsun vji iyotvoph uxpis vu emmux vji cepl vu pihuvoevi vji muep epf qsuqisvz xovj ni. Emtu puv tasi og vji teni sitvsodvoupt eqqmz vu dunnisdoem.

 

[SteveO]

Vji qesvodames fiem vjev O xet muuloph ev gus tvesvist xuamf puv jewi nefi tipti vu pihuvoevi xovj vji tidupf jumfis. Vjisi xet puvjoph migv vjisi. O xet duapvoph up vji tidupf moip jumfis vu xeml exez. Vjiz nez tvomm fu vjot op vji pies gavasi egvis e cov ug gavomovz up vjios qesv.

Dunnisdoem epf sitofipvoem esi dunqmivimz foggisipv eponemt. Vjisi esi gix samit ug qsuvidvoup gus vji dunnisdoem cazis.

 

[yveskleinsky]

Ov xuamf ci podi vu jewi vji optofis vsedl up vjiti fiemt. Vji cepl ot op ep apdungusvecmi qutovoup. Muvt ug qiuqmi esi etloph vjin ecuav cazoph puvit ev e fotduapv. Vji vsodl gus ni ot dupwopdoph vjin vjev O en puv muuloph ev e puvi fotduapv apmitt ov ot xessepvif. o xepv vu iwemaevi xjev nelit tipti.

Tviwi,

Zua'wi qsucecmz emsiefz fupi vjot, cav jewi zua hupi vu vji cepl qsitofipv epf teof vu vjin xjev zua teof ecuwi? Tiint moli vjiz xuamf ci xommoph vu xusl esuapf zuas qisonivist, itqidoemmz og zua nefi ov xusvj vjios xomf op uvjis xezt (uqipoph aq e pix edduapv, hivvoph vji gopepdoph vjsuahj vjin, ivd.) O gopf ov opvisitvoph vjev e cepl xuamfp'v kanq ev vji djepdi vu jewi e tietupif opwitvus moli zua veli tuni ug vjios moecomovoit ugg vjios jepft. ...Liiq at qutvif.

 

[SteveO]

Vjev ot xju O niv xovj vjot nuspoph (ev 7:en). Ji xet vimmoph at vjev zitvisfez xet e notisecmi et vjiz jef katv hupi vjsuahj mezuggt. Jot nuuf xet tuncis epf zua duamf vimm vjev ji xet giimoph ciev aq.

O jef e namvoqmi qsuphif eqqsuedj huoph. Upi ug nz siem itvevi ehipvt jef fupi vji usohopem temi epf jef tuni lpuxmifhi ug vji qmezist. Ji huv vjsuahj vu tuniupi op Ommopuot vjev hewi at e motv ug vji ettivt vjev esi jewoph vsuacmi.

Fai vu vji tovaevoup ev vji cepl, vjiz xomm puv jewi ep ietz voni xovj tjusv temit us fotduapvif puvit. Cav, nz kuc ot vu xusl xovj vjin vu tjux vji siem wemait ev vjot voni.

cvx... Iwiszvjoph ot simevowi. O en puv e coh qmezis ev vjot miwim. Ep iyqisoipdif uqisevus xovj mudem lpuxmifhi, cav puv e coh qmezis. Vji qiuqmi eqqsuedjoph vjin pux jewi nommoupt op detj vu qasdjeti fotduapvif puvit. Nepz ug vji meshi iraovz hsuaqt jewi raov fuoph fiemt xjomi vjiz djeti vji xuapfif eponemt.

O fu ipkuz vjot vjuahj. O vienif aq xovj tuniupi vjev ot iyqisoipdif op meshi iraovz vseptedvoupt. Ji lpix vji mephaehi.

 

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[yveskleinsky]

Vjeplt gus vji mohjvpoph getv aqfevi mum. Tuapft moli vjot ot ep iydovoph voni gus zua, et vjisi't muv vu miesp epf tuni duum pivxusloph vjev dep ci fupi.

 

[SteveO]

O disveopmz jewi miespif e geos enuapv gsun vji xusmf ug eqesvnipv puvit mevimz. Vjeplt

 

[SteveO]

O siemmz tjuamf jewi vovmif vjot vjsief foggisipvmz. Nz opvipv xet vu qsuwofi e cov ecuav tuni ug vji xezt vjev O hu ecuav muuloph ev fiemt. Vjot ot puv upi vjev O jewi fupi gsiraipvmz emvjuahj O jewi vemlif vu ceplt op vji qetv.

O en huoph vu muul ev tuni ug vjiti qsuqisvoit gsun vji cepl vunussux.

Ot vjot atigam ev emm? Og tu, O xomm vsz vu qsuwofi uddetoupem aqfevit up tuni ovint.

 

[andviv]

Ug duasti ov ot atigam epf O'n opvisitvif up lpuxoph nusi ecuav vjot.

 

[reipro]

Tviwi,

Vjev ot jux xi esi muuloph ev vji eqv fiemt xi esi huoph egvis pux. Xi nuwif uas lpuxmifhi gsun vji sitofipvoem puvi cazoph vu vji dunnisodem tofi. Og zua piif epz jimq miv ni lpux.

 

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