RAL in foreclosure

http://www.telluridewatch.com/view/full_story/10041389/article-Capella--Inn-at-Lost-Creek-subject to forclosure?

"Surrounded by the spectacular San Juan Mountains, and just minutes away from historic Telluride Mountain Village, the Inn at Lost Creek offers discerning homebuyers 29 lavish studio- to two-bedroom condominiums starting at $320,000.

Read more: The Watch Newspapers - The Inn At Lost Creek is Now Converting to Condos, 2007 "

oh the scarcity of discerning homebuyers! things have to be pretty crappy over there, they are very few units for not a whole lot of $ imho

notadmin: Yes, exactly.

The Capella fiasco is even worse.
The Inn At Lost Creek + Capella =

RAL may have engaged in the ole' cross-collateral.
Telluride? + One Brooklyn Bridge Park?

somewherelse: That 2-year extension that RAL got from the bank. Does it expire in April/ May 2010?

If in fact OBBP is 50% sold now -- how can RAL sell the remainder before then?

Correction: April/May 2011 !!!

RAL developes more than he can chew.

Tax-payers foot the bill.

An extra "e" for easy money from the banks.

The riversider award for posting to yourself.

and here's cc again! Within 36 SECONDS of my comment being posted.

And I still don't read his hidden comments.