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Originally Posted by Lou Card
I have been seeing this trash come out of the Orlando Sentinel for 7 years now. I have not seen anything said come to be true yet. I would take any article in that news rag with a large grain of salt and move on.
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Check this one out “Tern Bay Country Club Resort” near the West Coast, the Gulf side of Florida, north of Fort Myers, south of Port Charlotte.
Fast-forward two years, to 2007. More than $33 million in development costs later, Lennar cuts loose from the project. Developer Priority Developers walks as well, apparently forgetting to tell the golf course lawn mower service to stop cutting the grass. The CDD starts missing its payment obligations on operations and management, and the project tailspins into default. Said golf course lawn mower service, Hawkins Environmental, Inc., winds up at an advertised foreclosure sale on June 29, 2007, and walks away with title to the entire tract for $100. SNIP….
http://www.housingcrisis.com/financi...d-comeuppance/