[lvoc]

Originally Posted by Clarkcty

What a way to screw creditors but then it is the norm really. Perhaps they have more members now with the exclusivity gone. At least that is what they planned to bring in more funds.

Spanish Trail golf club resolves bankruptcy | Las Vegas Review-Journal

Please that is utterly nonsensical.

The country club made a very bad decision to do a major redo just as the economy turned bad.

Some idiot bank lent them more money than was wise. The economy tanked. The reasonably wise business people involved in the Country Club made an offer the Mortgage holder felt they could not refuse.

Economic life is hard.

Think about it. Would you lend too much money secured by a piece of property of very limited use? The Club House and the golf course are embedded in Spanish Trail. Even access to the property requires passage over the HOA's property. And use of the property was very well restricted to golf course.

Thisw is simply another demonstration that a fool and his money are soon parted...even for mortgage bankers.

And it is rapidly becoming more exclusive than it has been in a while. They need the well off.

[Clarkcty]

Originally Posted by lvoc

Please that is utterly nonsensical.

The country club made a very bad decision to do a major redo just as the economy turned bad.

Some idiot bank lent them more money than was wise. The economy tanked. The reasonably wise business people involved in the Country Club made an offer the Mortgage holder felt they could not refuse.

Economic life is hard.

Think about it. Would you lend too much money secured by a piece of property of very limited use? The Club House and the golf course are embedded in Spanish Trail. Even access to the property requires passage over the HOA's property. And use of the property was very well restricted to golf course.

Thisw is simply another demonstration that a fool and his money are soon parted...even for mortgage bankers.

And it is rapidly becoming more exclusive than it has been in a while. They need the well off.

........ and I'm sure you know what happens when people or business entities cannot afford to pay their debt and would rather ignore obligations, they file for bankruptcy. I'm sure you know what happens to the bulk of the debt.

[lvoc]

Originally Posted by Clarkcty

........ and I'm sure you know what happens when people or business entities cannot afford to pay their debt and would rather ignore obligations, they file for bankruptcy. I'm sure you know what happens to the bulk of the debt.

People who invest carefully seldom have the problem. But it is well established in law and culture that walking away from a bad investment is quite acceptable for a corporation. We are more of mixed minds about an individual doing so.

The real screwup in that Country Club was the extent of the redo. And that it did not have wide member support. So a substantial portion of the membership welcomed the BK. That was sad.

[dynimagelv]

Originally Posted by Rapp5

I'm posting this for my parents who are looking to retire from the East Coast to out West. They've been going to Vegas for years now, like the climate, cost of living, and many of the other perks they've come across along the way. They don't have to worry about schools, or jobs, or things of that nature. They've found a few homes for sale online that are out in Enterprise but I've found mixed info on the forum regarding this area. Is it "high crime?" What's the demographic? The homes they've looked at certainly aren't cheap. Just looking to get some basic, general info or even a few opinions.

Any help is appreciated.

Thanks!

Welllll the BEST Capitan was James T Kirk

[Clarkcty]

Originally Posted by lvoc

People who invest carefully seldom have the problem. But it is well established in law and culture that walking away from a bad investment is quite acceptable for a corporation. We are more of mixed minds about an individual doing so.

The real screwup in that Country Club was the extent of the redo. And that it did not have wide member support. So a substantial portion of the membership welcomed the BK. That was sad.

Double standards but regardless of who is doing it, whether an individual or a business entity, one party has reneged on a promise, an obligation to honor a signed loan contract.

Regarding the town of Enterprise, I love visiting Exploration Peak Park and hiking up to the view point.

[lvoc]

Originally Posted by Clarkcty

Double standards but regardless of who is doing it, whether an individual or a business entity, one party has reneged on a promise, an obligation to honor a signed loan contract.

Regarding the town of Enterprise, I love visiting Exploration Peak Park and hiking up to the view point.

No double standard. Just different clauses in a contract. Virtually all mortgages have a whole section on walking away and the ramifications. So you pay it to one clause and don't pay it to another.

[fvansan]

Update:

I am getting ready to finalize a house in Southern Highlands. My HOA is $60/month. I won't live in a SH Golf Club residence. Crime is low and life is quiet. If that is what you are looking for, this is a good area.