Star Tribune Fri, 18 Apr 2008 04:31:24 GMT
Little value is left in Parish development
None of the unsold homes built in a mortgage fraud conspiracy is worth saving from foreclosure, a court-appointed overseer said. A court-appointed receiver overseeing the aftermath of a giant mortgage fraud conspiracy involving hundreds of homes in some southern Twin Cities suburbs says there's little left for creditors to pick over. In a letter sent Thursday to U.S. District Judge Ann Montgomery, Gary Hansen said that none of the unsold homes built by Parish Marketing & Development is worth saving from foreclosure. "I have not identified any single property where the expected sale price will result in excess funds," wrote Hansen, chairman of the business litigation practice at Oppenheimer Wolff & Donnelly of Minneapolis.
[[keywords: LandUse;Housing;Metro;]]
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