Front and center in the business section today is a massive version of the photo above, via Star Tribune. Accompanied by an article with more detail on the ongoing saga down at the Sexton, where only 36 of 123 units are occupied, and the entire project is a messy tapestry of fraud, foreclosure, and lawsuits. “[The Sexton] doesn’t come up in conversations very often, but when it does, the comment usually is something like ‘That place is really a mess,’” Melchior said. We’d expect to see some indictments for some of the principal actors soon, and one wonders whether the Sexton Building will be g (more…)
We compiled the image above from this Sexton Property Listing, based on an anonymous tip: So after reading the Strib article [on the Sexton] I went to the MLS to look at the history. Turns out there is an active listing from one of the original owners that was foreclosed…I noticed in the details mention of ?adult entertainment room?…indeed, the unit includes a lower level decked out in mirrors, couches and poles ? a real business opportunity! Yikes! Word to the wise: If you are going to install a sex room in your condo, be aware that a simple search of property tax records, or in this case (more…)
Minnesota has the highest average credit score of any state, according to the Experian National Score Index. The average Experian score is 722 in the state. South Dakota followed, with 719, then North Dakota, at 718. (more…)
Fitch Ratings downgraded more than $2.5 billion in classes of several subprime transactions issued from 2003 and 2004. Among the impacted issuers were First Franklin, CSFB Home Equity Asset Trust and Long Beach. Also affected were issuances from Countrywide and NovaStar Mortgage Funding Trust. (more…)
