[JMPRO]

The bank forclosed on the first and we steped in and bought the first before it went to auction . I tried to get the bank to discount the first to me but they knew they had me by the short hairs and wouldn't deal.If it had gone to auction I wouldn't have recovered any of my 2nd because the bank only wanted to cover thier loss. Looking back I should have just let the bank do what they want with it and written off the 2nd trust deed as a loss. All in all the venture capital business was not a bad deal and even if I take a loss on this property I still made money although I don't think I will get back into soon.
JMPRO