1/18/2008

06-222A Rubicon Development (2nd)(FORECLOSURE)

2/27/2008 - FORECLOSURE WAS POSTPONED AGAIN. THE NEW TENTATIVE FORECLOSURE SALE DATE IS SET FOR MARCH 31, 2008. WE ARE CONTINUING TO POSTPONE THE SALE DATE TO ACCOMODATE THE REQUESTS OF THE ATTORNEY GENERAL SO THAT THEY CAN CONTINUE TO CORRECT THE TITLE ISSUES.

ATTORNEY GENERAL FOR NEVADA CONTACTED OUR OFFICE TO HOLD OFF THE FORECLOSURE UNTIL JANUARY OR FEBRUARY OF NEXT YEAR BECAUSE THEY ARE IN THE PROCESS OF CORRECTING TITLE ISSUES THROUGH A QUIET TITLE ACTION.


SOME OF THE INVESTORS DO NOT WANT TO FORECLOSE ON THIS PROPERTY.

WE POST-PONED FORECLOSURE SALE UNTIL ALL INVESTORS PAY THEIR SHARE OF FORECLOSURE COSTS TO CONTINUE WITH SALE, PER OUR ATTORNEY WE CAN STILL PROCEED WITH THE FORECLOSURE SALE HOWEVER, THE INVESTORS ARE HOLDING UP THE SALE AT THIS POINT.

Lis Pendens RECORDED ON PROPERTY WHICH STALLS THE FORECLOSURE SALE.

SALE DATE IS SET FOR 10/11/07 @ 1:00 AT THE MAIN ENTRANCE OF THE CITY OF CHINO CIVIC CENTER 13220 CENTRAL AVE., CHINO, CA


PROPERTY STILL IN FORECLOSURE WITH AN ESTIMATED SALE DATE OF SEPTEMBER 25, 2007 ON THE SECOND AND OCTOBER 10, 2007 ON THE FIRST.

Letters sent to all investors regarding status of property.

PROPERTY IN FORECLOSURE ON OUR 1ST AND 2ND. NOTICE OF DEFAULT RECORDED 6/4/07 ON THE SECOND.

NOD recorded on the 2nd.

SENT MATURITY LETTER, SENT TO FORECLOSURE 5/14/07

Loan matures 5/12/07.