KFAQ ratings keep dropping

[iplaw]

Only MDG could run a radio station that carries Glenn Beck, the 3rd most listened to radio show in the nation, and STILL have the gutter scraping ratings that they do.  He's a joke, but most knew that before any of this stuff ever happened.

[iplaw]

As much as I have disdain for MDG, after reading the story, I am unsure as to how people are connecting the dots with so little information, escpecially with the implicit assertion that he is in debt because of a gambling problem...he may have one, but that hasn't been proven.

A few observations:  

*  The author asserts that there are probably substantial amounts in arrears, which may or may not be the case.  A mortgage holder has the right to foreclose even if you are behind one month, especially if you have ever been late before.

*  Lastly, and the most plausible explaination, one may choose to allow a bank to recapture a home after they have already purchased another home, if they are unable to sell their current home...the buyer at auction is required to pay at least 2/3 of the appraised value and often it is equal to the appraised amount if there are multiple bidders.  If you have enough equity it often beats having double carrying costs and you may even end up making $ in the end.  

The foreclosure process is SLOOOOW, and basically gives him several more months to sell the home without paying carrying costs, although the payments in arrears will be deducted at closing.  When the house sells the bank is out nothing; he makes his cut and the case gets dismissed.

Since service was attempted today at the residence and the home was vacant I assume that this is what is going down...

Just some thoughts...

[iplaw]

Maybe they'll find he's left his mortgage payments in his freezer wrapped up to look like lasagna, or maybe he shoved the bills down his pants to hide them from creditors.

[guido911]

The court filings in this case are public record. I do not not if Arnett look at those prior to writing his article.