Cumberland Harbor Sham?
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Since: Mar 10

United States

#41 Jun 4, 2010
anon wrote:
I wonder how entangled Satilla Bank was with Cumberland Harbor? Cumberland Harbor is bleeding foreclosures. They may have had a hand in that property.
They may have had an extremely minor portfolio of personal mortgages, but I don't recall ever seeing their name on any of the Bankruptcy proceeding against the principals which I receive almost daily.
Money Sniffers

United States

#42 Jun 4, 2010
Because of the poor leadership of St. Marys, any deal that remotely looks like a few dollars sucks em right in. Realtors and Developers talked city council into increasing water and sewer capacity up to four million gallons a day. Problem is they use 1.2 million gallons a day. That's like hooking a 4x8 foot utility trailer with a water barrel and wheel barrow full of poop up to a 500 Horse Peterbuilt Semi. Just don't make a lot of sense. As for the Cumberland Harbor deal, the guy has one foreclosure here and three foreclosures to include a home in North Georgia (all from his former company, he is from Orlando area). He has no money and can't borrow any from a bank. He use to work for the original developer of Cumberland Harbor as a salesman. He told the city he didn't want to discuss his financial problems, "that is personal" and they said oh, ok then, we want look at those promises you broke. Another pig in a poke in the making. Tax payers can help if the deal goes South.
anon

North Anson, ME

#43 Jun 4, 2010
Money Sniffers wrote:
Because of the poor leadership of St. Marys, any deal that remotely looks like a few dollars sucks em right in. Realtors and Developers talked city council into increasing water and sewer capacity up to four million gallons a day. Problem is they use 1.2 million gallons a day. That's like hooking a 4x8 foot utility trailer with a water barrel and wheel barrow full of poop up to a 500 Horse Peterbuilt Semi. Just don't make a lot of sense. As for the Cumberland Harbor deal, the guy has one foreclosure here and three foreclosures to include a home in North Georgia (all from his former company, he is from Orlando area). He has no money and can't borrow any from a bank. He use to work for the original developer of Cumberland Harbor as a salesman. He told the city he didn't want to discuss his financial problems, "that is personal" and they said oh, ok then, we want look at those promises you broke. Another pig in a poke in the making. Tax payers can help if the deal goes South.
Where is the escrow money coming from?
Money Sniffers

United States

#44 Jun 4, 2010
Grafton is the CEO of Catalyst, the money is coming from private investors (some say the defunct owner of Land Resources, Bob Ward). Grafton is the puppet, others are pulling the strings.
anon

North Anson, ME

#45 Jun 5, 2010
Money Sniffers wrote:
Grafton is the CEO of Catalyst, the money is coming from private investors (some say the defunct owner of Land Resources, Bob Ward). Grafton is the puppet, others are pulling the strings.
Can we not get rid of these cockroaches of developers? We need to exterminate them and get solid investors in. The problem is no one in real estate has money but they are experts in cooking the books to look like they have money.

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