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comitan
Ultra Nomad
Posts: 4177
Registered: 3-27-2004
Location: La Paz
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Mood: mellow
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Many large developments are under a master Fido, its just the way its done. The only reason I know this is because we had friends in Cabo that the
contractor had a Master Fido for the development and went under before it was completed, the owners had to buy back their homes from the bank at a
negotiated price.
Strive For The Ideal, But Deal With What\'s Real.
Every day is a new day, better than the day before.(from some song)
Lord, Keep your arm around my shoulder and your hand over my mouth.
“The sincere pursuit of truth requires you to entertain the possibility that everything you believe to be true may in fact be false”
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k-rico
Super Nomad
Posts: 2079
Registered: 7-10-2008
Location: Playas de Tijuana
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| Quote: | Originally posted by comitan
Many large developments are under a master Fido, its just the way its done. The only reason I know this is because we had friends in Cabo that the
contractor had a Master Fido for the development and went under before it was completed, the owners had to buy back their homes from the bank at a
negotiated price. |
They paid for their house twice?
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k-rico
Super Nomad
Posts: 2079
Registered: 7-10-2008
Location: Playas de Tijuana
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So Americans scammed other Americans and the Mexicans will be seen as the evil doers.
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comitan
Ultra Nomad
Posts: 4177
Registered: 3-27-2004
Location: La Paz
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Mood: mellow
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Yes, but a negotiated price I don't know. Actually when they buy something like this it looks good on paper,But!!
Strive For The Ideal, But Deal With What\'s Real.
Every day is a new day, better than the day before.(from some song)
Lord, Keep your arm around my shoulder and your hand over my mouth.
“The sincere pursuit of truth requires you to entertain the possibility that everything you believe to be true may in fact be false”
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k-rico
Super Nomad
Posts: 2079
Registered: 7-10-2008
Location: Playas de Tijuana
Member Is Offline
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| Quote: | Originally posted by comitan
Yes, but a negotiated price I don't know. Actually when they buy something like this it looks good on paper,But!! |
I think I understand, thanks.
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Don Alley
Super Nomad
Posts: 1997
Registered: 12-4-2003
Location: Loreto
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| Quote: | Originally posted by k-rico
So Americans scammed other Americans and the Mexicans will be seen as the evil doers. |
Well, yes, but remember, FONATUR was in on this from the beginning, and there were Mexican contractors involved. Did they scam the developers? I'm not
saying.
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k-rico
Super Nomad
Posts: 2079
Registered: 7-10-2008
Location: Playas de Tijuana
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| Quote: | Originally posted by Don Alley
| Quote: | Originally posted by k-rico
So Americans scammed other Americans and the Mexicans will be seen as the evil doers. |
Well, yes, but remember, FONATUR was in on this from the beginning, and there were Mexican contractors involved. Did they scam the developers? I'm not
saying. |
I hope so. Business people scamming each other are simply doing business. Scamming school teachers out of their savings is quite a different story.
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
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Mood: undecided
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Somebody said "There's a sucker born every day." or something like that. The average Mexican is just as honest as the average gringo and probably
smarter.
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Jack Swords
Super Nomad
Posts: 1095
Registered: 8-30-2002
Location: Nipomo, CA/La Paz, BCS
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More info:
http://www.starksilvercreek.com/
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LancairDriver
Super Nomad
Posts: 1593
Registered: 2-22-2008
Location: On the Road
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Maybe "The Donald" could jump in and pick up the project. Heck, they could drag the billboard with his picture on it down from Baja Norte and start
the Trump scam all over again.
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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I think it's going to be on the news right after the Lakers win tonight that Tiger Woods is going to abandon Punta Brava and take his groupies to
Loreto and resurect the project.
Yup... You betcha.
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CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
Member Is Offline
Mood: Peacefull
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| Quote: | Originally posted by LancairDriver
Maybe "The Donald" could jump in and pick up the project. Heck, they could drag the billboard with his picture on it down from Baja Norte and start
the Trump scam all over again. |
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longhairedbeatnik
Banned
Posts: 32
Registered: 6-3-2009
Location: California
Member Is Offline
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FlyfishingPam,
If you go to this link and look in the comments section,the Loreto Bay homeowners are furious about a comment you left there. I would backtrack on it
if I were you as this bunch is as friendly as a beehive on the ground right now.
Its none of my business but I thought I would give you a heads up.
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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
Member Is Offline
Mood: gone fishin'
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I really feel for those who were lied to like the schoolteacher. Some of those who attacked me for making the comment are ones who benefited from the
sorts of lies like were described by longhairedbeatnick. That particular homeowner was told to continue paying, shown a different property when she
asked percentage of completion before making said payment. Openly deceived. She stands to lose over a quarter of a million dollars maybe her life
savings! How many more of those kinds of cases are there? Also LB was trying very hard to sell golf memberships as Vandenberg stated right up to the
date of this announcement. Outrageous!
There was a comment in there to the effect that many people may lose much of their savings, yet owners of partially built homes were continually
encouraged to keep making payments. That is beyond unacceptable. Nothing I wrote was untrue and my main message was "You cannot change Loreto.
Loreto changes you." took me a long time to learn that but finally it sunk in. And I am sorry that I may offend some people but I am passionate
about this place, also I don't lie to make a buck, quite the opposite.
I am more concerned for the hundreds of workers from the mainland whose families will no longer receive dinero to support them back home. They chose
to stay in Mexico to do this and not go to el otro lado, I think that is noble. Who will pay them their back pay? Who will pay their severance
(liquidation) that is required by law? How will they buy food to eat? where will they live? Will they stay here and look for work to get back on
their feet, displacing Loretanos of work they would have otherwise gotten? what about the life savings of these people or is it not enough for them
to be considered "stakeholders" so they should be ignored?
There are now over 50 people living in the municipal dump! Children too, eating and using what people throw in the garbage. Is this the vision they
had?
Now it is up to us who had nothing to do with this, to clean up the fallout. I am not making this up, geeze I couldn't make it up this is what was
created by greed, house flippers, rentors without proper immigration documents, others openly working without said immigration documents. Us regular
folks have to play by the rules so should they. It is infuriating and will affect all of us here.
If they didn't want comments from the public then they should have left out the comments section. trackback? I'm not sure how to go about that as
the only comment I could make in there would be in the form of a question to the ex VP of Sustainability who's been commenting. It would be- what
exactly was sustainable about this project? and the threats to my business in there, amenazas vacios.
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Loretana
Senior Nomad
Posts: 825
Registered: 5-19-2006
Location: Oregon/Loreto
Member Is Offline
Mood: alegre
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Muy bien dicho, Pam.
"If you want to find the secrets of the universe, think in terms of energy, frequency and vibration."
-Nikola Tesla
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Marie-Rose
Senior Nomad
Posts: 894
Registered: 10-2-2003
Location: Victoria, B.C. and Todos Santos
Member Is Offline
Mood: Worried...
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| Quote: | Originally posted by Loretana
Muy bien dicho, Pam. |
I agree... very well said Pam. I remember in the early days of Loreto Bay when you were optimistic and hoping that all the hype was going to be
positive for the locals.
How very sad it is... not for the rich who will not have their way of life changed much, but for the poor workers that you described.
Remember, when in Mexico, yes may be no and no may be
maybe!
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JESSE
Ultra Nomad
Posts: 3370
Registered: 11-5-2002
Member Is Offline
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| Quote: | Originally posted by CaboRon
| Quote: | Originally posted by David K
Man o man... how many saw this coming back in 2004?
Very sad that any advanced payments and money already invested are lost...
Like Puerto Escondido, another unfinished mess to blemish the once beautiful region! |
Well .... Suprise .... Suprise
Do NOT pay until the product is complete ....
When will we learn the truth about mexico ....
It is a lawless country .... you have NO protection ...
Do NOT buy or invest in mexico ....
As a gringo you are merely a target ...... |
We NEVER pay unless complete or backed by goverment agencies caboron, it is foreign companies who sell to foreigners using that pyramid scheme scam
that are to blame. If you don´t know how to play the game, then don´t, but don´t say things that are not true.
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gnukid
Ultra Nomad
Posts: 4411
Registered: 7-2-2006
Member Is Offline
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Baja always reclaims itself.
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BajaBruno
Super Nomad
Posts: 1035
Registered: 9-6-2006
Location: Back in CA
Member Is Offline
Mood: Happy
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This is a heartrending situation for the homeowners at Loreto Bay and I wish them well. I know nothing of this development, other than seeing it as I
occasionally pass by, so I did a little reading.
Arizona is one of the states that requires foreign real estate advertisers to have their property inspected by the state. Arizona’s report is here:
http://services.azre.gov/publicdatabase/DetailDevelopment.as...
Click on “Public Report” to open the pdf document.
That report seems to read that Baja Developments and TSD Loreto Partners are the same people, though perhaps I am mistaken. Well, I must be mistaken,
because I read here (http://dockets.justia.com/docket/court-azdce/case_no-2:2009c... ) that two months ago Baja Developments sued TSD Loreto Partners in federal
district court for breach of contract.
I don’t know the details, of course, because you’d have to go to the clerk’s office with copy money in your hand to get the filings, but the timing
doesn’t seem accidental given what happened this week.
Christopher Bruno, Elk Grove, CA.
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CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
Member Is Offline
Mood: Peacefull
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| Quote: | Originally posted by JESSE
| Quote: | Originally posted by CaboRon
| Quote: | Originally posted by David K
Man o man... how many saw this coming back in 2004?
Very sad that any advanced payments and money already invested are lost...
Like Puerto Escondido, another unfinished mess to blemish the once beautiful region! |
Well .... Suprise .... Suprise
Do NOT pay until the product is complete ....
When will we learn the truth about mexico ....
It is a lawless country .... you have NO protection ...
Do NOT buy or invest in mexico ....
As a gringo you are merely a target ...... |
We NEVER pay unless complete or backed by goverment agencies caboron, it is foreign companies who sell to foreigners using that pyramid scheme scam
that are to blame. If you don´t know how to play the game, then don´t, but don´t say things that are not true. |
It appears a lot of people did pay and did lose their money on this one.
And why is it that mexicans seem to think that this is all a game anyway.....
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