1/18/2008

06-207 Forum Group (FORECLOSURE)

6/20/2008 - BANKRUPTY DISMISSED - WE HAVE PUBLISHED AND ARE PROCEEDING WITH THE FORECLOSURE SALE ON JUNE 27, 2008.I

3/10/2008 - RCVD RESULTS FROM 2/25/08 HEARING - THE AUTOMATIC STAY IN THE BANKRUPTCY CASE SHALL TERMINATE ON JUNE 2, 2008. WE WILL THEN BEGIN PUBLICATION PERIOD AND, APPROXIMATELY 21 DAYS LATER, IT WILL GO TO TRUSTEES' SALE.

MOTION FOR RELIEF FROM BANKRUPTCY HEARING SET FOR 2/13/08, SETTLEMENT CONFERENCE FOR 2/25/08


STIPULATION/ORDER VACATE OTS ENTERED 11/28/07 SETTLE CONF SCHED 01/11/08 AND FOR 2/25/08


11/21/07 BORROWER DID NOT SHOW UP IN COURT TO ENFORCE THE SALE ON THE PROPERTY THEREFORE A RELIEF FROM THE BANKRUPTCY HAS BEEN LIFTED AND WE ARE GOING TO PURSUE OUR FORECLOSURE ACTION IN DECEMBER, WE DO NOT HAVE A DATE YET.

10/18/07 BANKRUPTCY JUDGE APPROVED SALE IN WHICH INVESTORS ARE TO RECEIVE FULL PAYMENT WITH INTEREST AND LATE FEES WITHIN 30 DAYS. STAY IS SUPPOSE TO BE LIFTED IN 30 DAYS.

BANKRUPTCY CONTINUING TO GO THROUGH JUDICIAL SYSTEM.

ATTORNEY IS WORKING THROUGH BANKRUPTCY CASE THAT WE SUBMITTED TO HIM ON 5/15/07, BORROWER STILL IN CHAPTER 11 BANKRUTPCY STILL GOING THROUGH THE PROCESS.

5/15/07 - Received notification that a Chapter 11 Bankruptcy has been filed by borrowers on the property. Referred file to bankruptcy attorney today.
4-6-07 Tentative sale date 7/20/07.
3-23-07 Notice of Default recorded.
3-13-07 Sent to foreclosure today to start foreclosure proceedings.
3-6-07 still waiting on borrwer to confirm extension terms.
2-13-07 Borrwer has contacted us asked for an extension prepaired docs and will send out email and reg. mail on 2-14-07.