Orange County Choppers foreclosure: information, fiction or fantasy - Associated Content

The most dramatic scene of Orange County Choppers "American Chopper" Last night was the preview that was printed header with OCC and their money problems in a headline. Who

Watch reality TV shows know what they do not meet in real time. There was an article in November, the OCC referred to foreclosure.

OCC foreclosure

GE Commercial Finance Business Property Corporation is the cause of the foreclosure OCC, as reported in November again, but the message was great last night thank you for "American Chopper preview following a new episode of the Discovery Channel. public money troubles seem to follow the Teutul family. Back in 2007 they were charged with bankruptcy fraud.

Orange County Choppers Foreclosure: Non-payment as a form of contracting?

According to the article published November 18, 2010 OCC did not really "miss" its mortgage $ 96,400 and $ 14,000 in July; heard they do not pay voluntarily, as a new form of contract. According to the Times Herald-Record, OCC lawyers, said, "to the left of the helicopter, mortgage lender pressure to modify loan terms."

So by the logic of OCC lawyers when property values fall, mortgage holders have the right to withhold payment because now the original mortgage agreement does not correspond to current economic conditions? What would happen if ordinary people do not have television and a team of lawyers, but mortgages do? Home values fluctuate. There are even differences between a city as the value of your property and how the values of home insurance.

Non-payment of an agreed amount in advance of the mortgage, because the economy does not seem to negotiate changes to a valid way, or handling money borrowed. Do they not realize that at some point up the property values back? What do they expect mortgage companies to continue the initial conditions of the contract it again?

Too big, too fast