Winnipesaukee Forum - View Single Post - Weirs Beach Water Slide on the Auction Block

fatlazyless · 01-18-2010, 10:51 AM

And the reason for the foreclosure auction is collateral damage created by the Financial Resource Mortgage (of Meredith) Ponzi, 80-100-million dollar meltdown. The landlord, a Laconia guy, who owns the property and rents it out to the Waterslide-big volcano business, lost his shirt to the FRM Ponzi and now cannot meet his mortgage payments, according to a LaDaSun article of 1-2 weeks ago.

According to the newspaper report, he really invested big-time with FRM and got caught hook, line & sinker........sorry to hear. Not a happy situation.

01-18-2010, 10:51 AM	#2
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,793 Blog Entries: 1 Thanks: 301 Thanked 1,024 Times in 745 Posts	And the reason for the foreclosure auction is collateral damage created by the Financial Resource Mortgage (of Meredith) Ponzi, 80-100-million dollar meltdown. The landlord, a Laconia guy, who owns the property and rents it out to the Waterslide-big volcano business, lost his shirt to the FRM Ponzi and now cannot meet his mortgage payments, according to a LaDaSun article of 1-2 weeks ago. According to the newspaper report, he really invested big-time with FRM and got caught hook, line & sinker........sorry to hear. Not a happy situation. __________________ ... down and out, liv'n that Walmart side of the lake!