Anyone know how Vantage is avoiding default?

by miracle. looking forward for them to default.

jazzman, i would think it would be at the same point that TS did. when they run out of reserve funds. an elliman broker was quoted this weekend with the most amazing comment, although about new condo developments. he said they'd been subsisting on their reserve funds to pay interest debt, and it was about to run out for some of them. and then they may become rentals after the banks finally take them over. different situation, but same issue. i wonder what dottie thought of that comment, though, on the record.

"i wonder what dottie thought of that comment, though, on the record."

I guess they need some remedial message training at Elliman for the New Year. When you let the message slip it can get messy, what with agents becoming candid, starting to tell the truth and all. Of course it can't really get too out of hand, as there just aren't enough brokers who are honest (intelligent?) enough for a real truth epidemic to break out.

sidelinesitter - "as there just aren't enough brokers who are honest (intelligent?) enough for a real truth epidemic to break out." NICE!!

AR - certainly Vanatage has had some loans come due no? And if not due then certainly they are in some sort of default as their loan docs no doubt have some sort of minimum debt service coverage ratio that must be maintained. If you're the bank then why not force the issue now? The only reason is that the bank is near bankruptcy as well and can't afford to recognize the losses.

Anyone have more info here?