Homebuilder-Bankruptcy.com

The court has just lifted the automatic stay in bankruptcy proceedings for Maryland Development Company to permit Suburban Federal Savings Bank to foreclose on 14111 and 14119 Turkey Foot Road, Darnestown, Maryland 20878.
The bank’s claim on the property consisted of a principal balance of $1,205,995.70, and accrued interest and late charges make it up to [...]

Sun River Mesa Condominiums, which filed for Chapter 11 in Jun’08, is the developer of a 150-unit condo complex in Bullhead City, AZ. At the time of bankruptcy, the property consisted of 13 finished townhomes, 6 partially-finished townhouse, 57 partially-finished townhome lots and 64 partially-finished condominium lots.
The “as is” appraisal of the property was $2.55 [...]