Dave Brown a home builder from Tempe, Arizona has found himself in trouble with the bank, but not for typical reasons. He had not missed a single payments on his loans, but recently the bank concerned with the drop in revenue suddenly demanded millions of dollars in additional collateral.

Dave has been unable to keep up with the new monetary request the bank has required of him and he now has had five of his developments foreclosed on, and his business of 33 years has been forced to close. Desperate times call for desperate measures for the banks.

This entry was posted on Thursday, January 22nd, 2009 at 2:58 pm and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.