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Date Posted: Friday, July17, 06:41:pm
Author: Darthy V. (DUH!)
Subject: Re: Property disposition discussed at council work session
In reply to: Just Venting 's message, "Re: Property disposition discussed at council work session" on Friday, July17, 05:08:pm

M&T put the IDA on as co-signer because they recognized the RISK right up front. OF COURSE the IDA is on the hook. The IDA's exposure was why there was outrage from some within the community when they signed the mortgage in the first place. I'm not quite sure why, this long after the fact, anyone is shocked. Hello! Banks do not walk away from two million dollar debts such as this until they've exhaused all their options. They want their money, and have fed auditors and their stockholders to answer to.

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