Das geht schneller als die Polizei erlaubt Wahnsinn.
Heute der Dollar das wäre nen Hype.
Es waren die NEWS von gestern die den Wert antreiben:
September 2, 2008 - 8:54 AM EDT
Comstock Homebuilding Companies, Inc. Eliminates $32.7 Million of Debt Through Friendly Foreclosure Agreement With BB&T
RESTON, VA -- (Marketwire) -- 09/02/08 -- Comstock Homebuilding Companies, Inc. (NASDAQ: CHCI) and certain of its subsidiaries (collectively "Comstock" or the "Company") today announced that on Friday, August 29, 2008 it had entered into a foreclosure agreement ("Agreement") with Branch Banking and Trust Company ("BB&T") with respect to approximately $32.7 million of the Company's $144.0 million of secured debt. Under the terms of the Agreement, the Company agreed to cooperate with BB&T with respect to its foreclosure on certain of the Company's real estate assets and BB&T agreed to provide the Company a full release from its obligations with no deficiency liability post-foreclosure. The foreclosure agreement covers properties in Virginia and Atlanta. Comstock will retain pre-sold lots in Atlanta which are not included in the foreclosure.
"As previously announced we are working to restructure a significant portion of our debt to ensure our ability to survive what has turned out to be the worst cyclical market downturn in a generation. We are pleased with the results of our negotiation with BB&T and consider this an important first step in our plan to reposition Comstock to meet current market challenges," said Christopher Clemente, Comstock's Chairman and Chief Executive Officer. "We continue to focus on similar negotiations with certain other lenders and remain optimistic regarding the outcome of those negotiations."
It is expected that on September 2, 2008 BB&T will complete the foreclosure process on select lots at Maristone, James Road, Wyngate and Glen Ivy, all in the Atlanta, Georgia market and that on or before September 30, 2008, BB&T will complete the foreclose process on the collateral securing the Company's debt at two projects in Virginia, Barrington Park and Woodlands of Round Hill. The Company announced that in anticipation of this agreement it had recorded impairment charges related to the BB&T collateral in the quarter ending June 30, 2008 and as a result the Company does not anticipate any material future write-offs as a result of the Agreement or the foreclosures.
