http://www.therealestatebloggers.com/2008/09/03/longtime-florida-builder-oriole-homes-files-for-bankruptcy/ Real Estate Blog, Mortgage, and Development News Sat, 21 Nov 2009 03:38:54 -0600 http://wordpress.org/?v=2.8.6 hourly 1 http://www.therealestatebloggers.com/2008/09/03/longtime-florida-builder-oriole-homes-files-for-bankruptcy/comment-page-1/#comment-254724 Jack Smith Thu, 04 Sep 2008 15:08:26 +0000 http://www.therealestatebloggers.com/2008/09/03/longtime-florida-builder-oriole-homes-files-for-bankruptcy/#comment-254724 It is always sad to see builders go under because of a lack of back bone and sense of responsibility by their backers. I am out in California and many banks are forcing builders into default to seize their assets and then sell them for pennies on the dollar. Who gets screwed over? The subcontractors that improved the land and then don’t get paid. Check out www.pathtodefault.com it has a lot of information about how this is happening. It is always sad to see builders go under because of a lack of back bone and sense of responsibility by their backers. I am out in California and many banks are forcing builders into default to seize their assets and then sell them for pennies on the dollar. Who gets screwed over? The subcontractors that improved the land and then don’t get paid. Check out http://www.pathtodefault.com it has a lot of information about how this is happening.

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