We are investors in several Ginn properties and are seeking other investors that may be interested in exploring or joining in a class action litigation.  Some are just curious what is going on and want to share information.  Others are at wits end and don't know what to do.

       Feel free to read or add to the blog.  We cannot do it alone.  It is only by sharing information and resources that we stand a chance to get something out of this fiasco.  If you are happy with your purchase, that's great and I'd love to hear about it.  If you  lost some (or perhaps a lot more than some) money solely as a result of the poor real estate market, well, you're a big boy.

       But, if you feel you have been misled, duped, deceived or conned,  I (and other investors) would like to know about it.  Feel free to post (anonymously if you wish) or just contact me directly.  We are working with experienced litigators and need to work together as a group in order to do it right and be successful.

        If you read the news (and this site), you will see that things are not getting any better for the Ginn organization.   And we know that they are certainly not getting any better for us.  You probably cannot give away your Ginn property and the monthly outlay is nonsensical.  The time to act is now.  There are many more issues than you know.  If interested, send me an email and I will forward you the retainer agreement and an explanation letter.

 UPDATE -        PLEASE CONTACT ME AT This e-mail address is being protected from spam bots, you need JavaScript enabled to view it  IF YOU WOULD LIKE ADDITIONAL INFORMATION OR TO CONTACT THE LITIGATION ATTORNEY DIRECTLY.

SINCE GINN HAS HIS ATTORNEYS ACTIVELY WORKING ON SHUTTING DOWN THIS SITE, I HAVE ALREADY PREPARED TO POST ON MY NEW BLOG AT WWW.GINNLAWSUIT.BLOGSPOT.COM.

HOW DO I GET OUT?

       On a different note, I am constantly being asked for advice by fellow investors that are "upside-down" as to an exit strategy - whether it be this, or any other real estate investment, for that matter.   If you are "losing your shirt" and the kids are near starving, you have more immediate problems than joining in this lawsuit.  I will never suggest that you do not pay your bills, but if you are at the point that you simply cannot pay the mortgage or you feel you  must "stop the bleeding," you are not alone.

       On the other hand,  I speak to some investors who can afford to ride it out   An investor friend of mine (let's call him a "Ginn buddy") was complaining that he was negative to the tune of $30,000 per month due primarily to his Ginn land investments (perhaps that should read "speculations").  He was  able to afford the loss and was only concerned about his credit in the event he stopped making payments.  Now, I think having good credit is a wonderful thing.  But that's costing him $360,000 per year.  When I asked when he felt this particular deal would turn around, his guess was about 10 years.  You do the math!

       I am working with several investors, in this and other deals, that  need (or realize it just makes sense) to get out of their investments.  They just want to return the deed to the lender but do not want the lender chasing them with a deficiency judgment for which the borrower is  personally liable.   The worst thing you can do is just walk away and allow the lender to  foreclose.  Not only will this destroy your credit, but the lender will ultimately get a deficiency judgment which automatically attaches to all real property you own in Florida and is good for 20 years. 

       Unfortunately, the thought of "just riding it out" may be even less appealing, even if you have the financial wherewithall.  Just tally your expenses each month to hold onto this disaster (some of us have more than one) and figure how many years it will take for this to turn around.   There is another alternative.  We are negotiating with the lenders to return the deed (a deed in lieu of foreclosure) in exchange for no personal liability.   My attorney specializes in mortgage law and foreclosure defense and has done this numerous times before.

       Why would the bank do this?   When the lender forecloses, it is seeking to get title to the property.  We are giving it to them up front -  without a fight  -  which nowadays costs the lender over $50,000 on average per foreclosure and could take well over a year.  In exchange, the bank is  giving up the potential of getting a deficiency judgment.  Given the time, expense and their exposure in this situation, we feel they would rather take back the property and get it over with.   Most importantly, there is strength in numbers and most of us used the same lenders (that were recommended by Ginn).

       If interested, feel free to  contact me directly at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .   This is not some sales pitch.  I'm a fellow investor, I'm angry and, unfortunately, I've been through this type of thing before.  I can only share with you what I have learned.  Ultimately, it is your decision.   If you would like more information on either the class action above or the "deed in lieu" exit strategy let me know.