HGVC Foreclosures

[jsfletch]

I noticed in today's (3/12) Star Advertiser that a number of HGVC units are in foreclosure and will be sold at auction on the 30th. I think I'll attend the sale be interesting to see what they go for.

 

[Talent312]

I noticed in today's (3/12) Star Advertiser that a number of HGVC units are in foreclosure and will be sold at auction on the 30th. I think I'll attend the sale be interesting to see what they go for.

If this is a foreclosure sale, typically, the plaintiff (judgment-holder) bids up to the amount of the judgment or market value, whichever is less. I wonder what HGVC will do... bid or wait until the buyer tries to resell b4 using their ROFR. Either way, please report back. It would be interesting to know.

 

[momeason]

I noticed in today's (3/12) Star Advertiser that a number of HGVC units are in foreclosure and will be sold at auction on the 30th. I think I'll attend the sale be interesting to see what they go for.

Where is the sale? On March 30?

 

[jsfletch]

Where is the sale? On March 30?

At the ewa end of the plaza area fronting the building 777 Punchbowl St. Honolulu 4/3/2012 12:00 noon.
For additional details contact Security Union Title Ins.
#121
Escondido, Ca 92025
attn: Lori R. Flemmings
800-540-1717
Ext 3601

 

[whatsburning]

There's some big $$$ that HGVC charged these people. No wonder they can't pay... These are the listed amounts still owed to Hilton: $64,666, $34,649, $28,921, $25,237, $12,492, $13,446, $12,191, $25,728, $30,422

Of course, HGVC will just eat all of this and put them back up for sale again. No money lost for them, just time.

 

[rrlongwell]

There's some big $$$ that HGVC charged these people. No wonder they can't pay... These are the listed amounts still owed to Hilton: $64,666, $34,649, $28,921, $25,237, $12,492, $13,446, $12,191, $25,728, $30,422

Of course, HGVC will just eat all of this and put them back up for sale again. No money lost for them, just time.

Not necessarily, if they do not own the paper that is being forclosed on, they will probably let the lender have them.

 

[whatsburning]

Not necessarily, if they do not own the paper that is being forclosed on, they will probably let the lender have them.

That's true, but how would ROFR work in these cases? I guessing Hilton will be right there bidding to protect their ROFR?