Hi everyone, After 8 years of working on our ranch project, a year building the house, and a year in litigation with both the general contractor and the lender, we are now in a situation we may have no way to respond to effectively.
I've requested a restraining order and preliminary injunction to stop the foreclosure sale of our home until the litigation is resolved. My request was granted, but on the condition that I post a bond for $100K. Ordinarily, the bond would be pretty simple. However, in a time with real estate values so far down, our mortgage is actually larger than the current appraised value for our home and land. It is really too bad, because we think it is a temporary situation. If we are unable to secure the bond, Countrywide will simply take our home and then just drag out the litigation for as long as possible, and we may not recover damages for many years. Since Steve is 65, that means he actually might not live to see that day. If, however, we secure the bond, they'll be motivated to finally negotiate a settlement with us. I do have some assets that could conceivably be used to secure a bond, but since they are mostly intellectual property (124 web sites + code to manage them) and equipment/furnishings for my business, I'm not sure that they'll be suitable for bonding purposes. The reason I'm posting this is that I'd like to know if anyone knows of a resource that could be used to secure the $100K court bond. I'd set about selling the web sites if it were possible to do it in time. However, I need the bond by Tuesday 7/8 and I don't see any way to sell my web sites that quickly. Ideas are welcome. Thanks! Kristyne McDaniel _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
