Comments on: New FNMA Condo Guidelines Chilling to Panama City Beach http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach Panama City Beach Information, news, and updates including Pier Park and the Panama City Airport Sat, 11 Feb 2012 17:41:11 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: C. Doyle http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-25718 C. Doyle Tue, 18 Jan 2011 00:17:01 +0000 http://pcbdaily.com/?p=3246#comment-25718 Dec. 2010 Update We have retained a lawyer to contact other purchasers at Tradewinds to see if there is any interest in investigating the builder and this project. If your name is on the list, you should be receiving a letter in the near future. Dec. 2010 Update
We have retained a lawyer to contact other purchasers at Tradewinds to see if there is any interest in investigating the builder and this project. If your name is on the list, you should be receiving a letter in the near future.

]]> By: Jamey http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-24214 Jamey Mon, 09 Aug 2010 14:33:05 +0000 http://pcbdaily.com/?p=3246#comment-24214 I would love to know more about any class action against Henry. As a purchaser at Tradewinds I received the same letter that the initial 10% of 20% deposits were used for construction purposes. Ha! What construction? The other 10% had already been refunded. To date I have seen nothing even though we had 20% cash down in escrow. Calls and emails to Gulf Coast Title and Henry's attorney go unanswered or never returned after leaving msgs. Would love to know what assets he has left, if any in order to start a class action. Info anyone? I would love to know more about any class action against Henry. As a purchaser at Tradewinds I received the same letter that the initial 10% of 20% deposits were used for construction purposes. Ha! What construction? The other 10% had already been refunded. To date I have seen nothing even though we had 20% cash down in escrow. Calls and emails to Gulf Coast Title and Henry’s attorney go unanswered or never returned after leaving msgs. Would love to know what assets he has left, if any in order to start a class action. Info anyone?

]]> By: C. Doyle http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-24063 C. Doyle Sun, 25 Jul 2010 21:36:54 +0000 http://pcbdaily.com/?p=3246#comment-24063 Just received letter from Thomas B. Henry's attorney last week that he has been unable to secure capital to proceed with the TradeWinds Project. Therefore, down monies we all put down are gone. Is anyone aware of any good Florida lawyers who may be interested in a class action suit? Mr. Henry certainly has assets in all the projects he owns along 30A and the Tidewater condominiums. Just received letter from Thomas B. Henry’s attorney last week that he has been unable to secure capital to proceed with the TradeWinds Project. Therefore, down monies we all put down are gone. Is anyone aware of any good Florida lawyers who may be interested in a class action suit? Mr. Henry certainly has assets in all the projects he owns along 30A and the Tidewater condominiums.

]]> By: Glenn Lesnik http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-18041 Glenn Lesnik Thu, 24 Sep 2009 19:14:23 +0000 http://pcbdaily.com/?p=3246#comment-18041 I purchased a condo in the Tradewinds project and have been trying to get my money back for years. Thomas Henry is the person I would like to talk with. If anyone has his phone number or address of where he can be reached please contact me. All the buyers in the tradewinds project need to get together on this. Resort Quest is the broker that represented and conducted the sales. They must be held accountable as well. I purchased a condo in the Tradewinds project and have been trying to get my money back for years.
Thomas Henry is the person I would like to talk with.

If anyone has his phone number or address of where he can be reached please contact me.

All the buyers in the tradewinds project need to get
together on this. Resort Quest is the broker that represented and conducted the sales. They must be held
accountable as well.

]]> By: Valerie Duke http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-16044 Valerie Duke Fri, 31 Jul 2009 20:18:59 +0000 http://pcbdaily.com/?p=3246#comment-16044 I know that this may not be related, but my husband and I invested in the Tradewinds, which are now defunct. I personally hope that they put some very strong regulations in place for these pre-construction sales, especially people like the developer of the Tradewinds. I hope that future condo owners will check the background of these developers. It is too late for us, very sad indeed, that these developers are still out there operating. I know that this may not be related, but my husband and I invested in the Tradewinds, which are now defunct. I personally hope that they put some very strong regulations in place for these pre-construction sales, especially people like the developer of the Tradewinds. I hope that future condo owners will check the background of these developers. It is too late for us, very sad indeed, that these developers are still out there operating.

]]> By: Rob http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-12107 Rob Sun, 26 Apr 2009 02:40:25 +0000 http://pcbdaily.com/?p=3246#comment-12107 We just closed on a pre-construction condo loan through Vision Bank's in house program. Jeanne Royer was wonderful to work with. We just closed on a pre-construction condo loan through Vision Bank’s in house program. Jeanne Royer was wonderful to work with.

]]> By: Jeanne Royer http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-9042 Jeanne Royer Fri, 30 Jan 2009 18:45:42 +0000 http://pcbdaily.com/?p=3246#comment-9042 Vision Bank has successfully closed several units, such as Origin, just this month with our in house programs. Give one of us a call and we will be happy to help you. Vision Bank has successfully closed several units, such as Origin, just this month with our in house programs. Give one of us a call and we will be happy to help you.

]]> By: scott http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-9001 scott Thu, 29 Jan 2009 16:53:55 +0000 http://pcbdaily.com/?p=3246#comment-9001 Jim,I have a person that is trying to refinance his condo. There are only 8 units in the building. One person owns 2 of those 8. 5 of the 8 are owner occupied. I cannot seem to get financing because of the 10% rule. Im assuming this applies to properties that only have 8 units or less. Please advise.thx scott Jim,I have a person that is trying to refinance his condo. There are only 8 units in the building. One person owns 2 of those 8. 5 of the 8 are owner occupied. I cannot seem to get financing because of the 10% rule. Im assuming this applies to properties that only have 8 units or less. Please advise.thx scott

]]> By: Sam Portman http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-8921 Sam Portman Tue, 27 Jan 2009 13:00:31 +0000 http://pcbdaily.com/?p=3246#comment-8921 Jim, Unfortunately, each lender decides how to interpet the requirements. It's a moving target. You could make a good case that Emerald Beach Condo I is a seperate enity. Sam Jim,
Unfortunately, each lender decides how to interpet the requirements. It’s a moving target. You could make a good case that Emerald Beach Condo I is a seperate enity.

Sam

]]> By: Jim Morin http://www.pcbdaily.com/new-fnma-condo-guidelines-chilling-to-panama-city-beach#comment-8919 Jim Morin Tue, 27 Jan 2009 12:42:57 +0000 http://pcbdaily.com/?p=3246#comment-8919 Unfortunately, I own a unit in Emerald Beach Condo I. At present Wyndham actually owns less than 50% of the units in the "Project." Condo I has 283 Units, 9 Commercial and 272 residential. Condo III (Wyndham) has 267 units, 1 commercial and 266 residential. Although they act like they own the entire project, they don't. From what I have heard they plan on purchasing the remainder of the units in the project when built. Construction was started on Condo II but I been told its now on hold due to "Market Conditions." How does Fannie define "Project." Legally speaking, EBR Condo I is a seperate enity, not controlled by Wyndham. Jim Morin Unfortunately, I own a unit in Emerald Beach Condo I.
At present Wyndham actually owns less than 50% of the units in the “Project.” Condo I has 283 Units, 9 Commercial and 272 residential. Condo III (Wyndham) has 267 units, 1 commercial and 266 residential. Although they act like they own the entire project, they don’t. From what I have heard they plan on purchasing the remainder of the units in the project when built. Construction was started on Condo II but I been told its now on hold due to “Market Conditions.”

How does Fannie define “Project.” Legally speaking, EBR Condo I is a seperate enity, not controlled by Wyndham.

Jim Morin

]]>