Townhomes: 'Bad situation'
Broker in spotlight as renters face uncertain future
By Julie Poppen, Rocky Mountain News (Contact)
Published April 2, 2008 at 12:05 a.m.
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Photo by Judy DeHaas / The Rocky
Lonnie Hudson, center, begs Pam DeLaria of Arvada, to help her find a place to live. Her family was forced out of their condemned apartment.
Photo by Judy DeHaas / The Rocky
Jacklynn Hudson, 13, lets out a sigh as she learns that her father's Social Security check didn't arrive in the mail Tuesday. Their apartment was condemned last week.
Photo by Judy DeHaas / The Rocky
Kim DeNeir, right, and a friend, Bill Manning, move her things out of the townhome at 10322 W. 59th Ave. in Arvada that she has rented for 20 years. The building has been condemned.
In the 20 years Kim DeNeir has lived in her townhome - most recently with her 14-year- old grandson, two cats and a dog - she says she has paid her rent on time.
It covered water, trash and sewer.
But several weeks ago, DeNeir started getting notices from the city that her water could be shut off for non-payment. Then came notices from trash haulers, who yanked their trash bins, leaving trash-strewn alleys in their wake.
This week, the city condemned her townhome because of rodents, giving the 51-year-old woman who struggles with physical and mental disabilities hours to find a place to sleep.
DeNeir is not alone in her plight at the 59th Avenue Townhomes, many of which are vacant or in varying degrees of foreclosure.
A broken sewer line has forced out at least one other family, and now renters are told they'll have to pay their own trash bills starting May 1.
"It is a really, really bad situation," city spokeswoman Maria VanderKolk said. "We are working very hard to try to unravel this. People out there are living in really bad conditions right now."
Still, the city is threatening to shut off water because of an unpaid $23,000 bill from 18 of the fourplexes that belong to the 59th Avenue Homeowners Association.
Who's at fault?
The subprime mortgage crisis shares part of the blame, and so may a homeowners association that's under investigation by the Colorado Real Estate Commission.
But much of the blame is heaped on Danny DeGrande, a 36-year-old real estate broker from Parker and the original owner of the Colorado Ice arena football team in Fort Collins.
DeGrande bought 18 of the complex's 60 fourplexes with a group of investors in 2004, then resold them at higher prices.
DeGrande, who is also owner of Century 21 Universal Brokerage in Centennial, said Tuesday that he doesn't own any of the 59th Avenue units anymore, but manages some under the umbrella of DeGrande Properties.
DeGrande said originally, there was a semi-official HOA board, and he was on it, but bankruptcies and foreclosures ultimately gutted it.
"I started the thing," DeGrande said. "Like anything else, it went under. Unfortunately in that situation a lot of people get hurt, including my investors."
DeGrande said his own home is in foreclosure. Records show it last sold for $1.2 million.
City officials say they've tried to contact DeGrande dozens of times, but he never talks to them. DeGrande questions why he should, when the situation is really not his problem.
DeGrande said he has no management agreement with the HOA. But he acknowledged that he has collected $100 monthly from each unit, which usually rent for around $800.
Larry Medina, who owns and lives in one of the units, said he has a document showing there was $57,652 in the HOA in September 2007.
"To me, it's fraud," Medina said. "I don't believe in someone taking advantage of people. No one's been here to fix anything in the last three months."
DeGrande didn't dispute that at one time there was money in the HOA. But he said it ran out, and he ended up paying for some water bills with his personal credit card.
Now, the Colorado Real Estate Commission is investigating a complaint filed by another property manager at the site, asking that the HOA's escrow account be analyzed.
And the Arvada Housing Authority, which has subsidized tenants in the townhomes, will no longer do business with DeGrande, said VanderKolk.
Marcia Waters, with the Colorado Real Estate Commission, said DeGrande was before the board Tuesday on a separate matter, which she would not disclose. And he faced public censure by the commission in January 2007 over a third matter, Waters said.
In his response to the most recent complaint, DeGrande said he never planned to be the HOA's sole agent.
"I never intended to manage the HOA or did I make any money from the HOA. I am stuck and do not know what to do."
Sympathy isn't forthcoming from tenants like Barbara Salage, a 52-year-old massage therapist who rents a townhome with her teenage daughter.
She already had to move out of another unit because it was in foreclosure.
"It's been a fiasco," said Salage. "I'm not paying the trash. I'm not paying the water, and if this keeps up I'm not paying the rent because someone's breaking the lease."
Salage said she's not sure who's at fault.
"There seems to be a lot of different fingers in the pot here. Where are the owners? Who are these guys? You just don't sit by twiddling your thumbs. This is wrong."
59th Avenue Townhome Association
* Units: 18 fourplexes
* Location: West 59th Avenue and Kipling Street
* Problems: Foreclosures, lack of upkeep, delinquent water bills, rodents, overdue trash collection bills and trash in alleys
* What's next: The city is exploring the installation of water meters on individual units. That would cost $3,000 per unit and owners would be asked to foot the bill or face a lien on the property. Presently, there is one meter per fourplex.
Kim DeNeir, 51, was told Monday that her unit - which she has called home for two decades - was being condemned by the city because of a rodent infestation and that she would have to move. The Mile High Chapter of the American Red Cross is helping her.
"I'm devastated. I've got mental health issues. I'm on disability. I don't deal well with stress. I don't deal well with making instant decisions.
"Before this happened, I was already under a lot of stress taking care of my 80- some-year-old father. I just got done moving him into a place. Before that, my daughter was homeless with a brand new baby, staying with me on and off. This is the third (upheaval) in less than three months.
"Physically, I'm afraid I'm going to wind up in a hospital. If not physically, emotionally. It's not like I know a whole lot of people to help me move that stuff. Being here 20 years, I'm a pack rat. I've got so much stuff, including my grandson.
"I'm praying I find someone to rent to me. If I got to drive around and park it somewhere and sleep in my van, that's what I'll do. I'm embarrassed. I know I shouldn't be, but I am."
* News Tip: A reader submitted this tip. If you have one, go to RockyMountainNews.com and send us your information
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April 2, 2008
3:39 a.m.
Suggest removal
Oh_Wise_One writes:
"The subprime mortgage crisis shares part of the blame" Who and where does this person live and we shall go throw 'him' in jail. /sarcasm
Life isn't fair and this isn't but don't blame something on a non-entity. This guy DeGrande probably pocketed some or all of the escrow. Let the Co. Real Estate Commission investigate the transactions and then let the blame game begin.
April 2, 2008
3:58 a.m.
Suggest removal
plotz writes:
It appears DeGrande is an adept dancer and charlatan. Where did the HOA money go? Hmmm DeGrande's pocket. The people who are being forced out should set up a tent city on the lawn of DeGrande's home.
April 2, 2008
7:22 a.m.
Suggest removal
fiesty writes:
DeGrande says "it's not his problem", yet admits to taking the $100 each month from the tenants for the servic...
April 2, 2008
7:32 a.m.
Suggest removal
HolierThanThou writes:
Fraud? I believe the word you're looking for would be embezzlement.
April 2, 2008
8:22 a.m.
Suggest removal
dftoad writes:
DeGrande is President of the HOA, is he not? Is he not a state licensed broker/dealer? And all the state is doing is some slow-moving investigation while these residents cope with trash and possible loss of their water? Where's the money DeGrande has collected from these poor people? Aren't several of these units owned by DeGrande friends and associates? Would the RICO statutue apply?
April 2, 2008
8:23 a.m.
Suggest removal
smith writes:
Why do you *rent* the same townhouse for 20 years?
If you aren't willing to take ownership of your life and the responsibilities that come with it, then something like this is bound to happen to you in time
April 2, 2008
8:26 a.m.
Suggest removal
landsharkdenver writes:
possibly the unethical exploiting the weak? truly one of the worst things that someone can do to another person...take their money, and then undermine their fragile existence by taking their sense of stability from them (their home), poor families live in a very fragile world, at the mercy of those who pay their wages, rent them housing, cash their paychecks, provide basic services. they are constantly being preyed on by someone who considers them just another weak and vulnerable person to take advantage of.
Put the townhomes under a receivership, audit the books determine where the money went and make an example of the culprits. AND do not let the attorneys turn what is a black and white situation gray so their client can hide is some ambiguity.
like they used to say in the west "get a rope"
April 2, 2008
8:27 a.m.
Suggest removal
AWM writes:
It would be a shame if all the tennants were to google Degrande's address and then pay him a presonal visit and speak their mind!
April 2, 2008
9:03 a.m.
Suggest removal
BTP writes:
The rich taking advantage of the poor. Its completely revolting. The guy owns a freaking football team and supposedly his house is in foreclosure. That seems odd to me!
I hope other authorities are also looking at Mr. DeGrande and "his investors" in regards to some criminal charges.
April 2, 2008
9:09 a.m.
Suggest removal
LuckyMe writes:
Why do you *rent* the same townhouse for 20 years?
If you aren't willing to take ownership of your life and the responsibilities that come with it, then something like this is bound to happen to you in time.
Smith, I would tell you, but it would be out of the scope of your narrow mind. Don't pretend you have any clue what it would be like to be in a situation with this. SNOB
April 2, 2008
9:09 a.m.
Suggest removal
ruserious writes:
smith. why would someone who pays their bills on time be irresponsbile. Isn't it better she is trying to make a go at things versus relying on the government?
basically the notion of everyone deserving a home to own is the reason people are in a bind now. you sound like an entitled person who may or may not have had to face adversities.
April 2, 2008
9:13 a.m.
Suggest removal
BTP writes:
Smith, until you walk in someone else's shoes, don't attempt to judge. The woman rented her townhome all those years, paid her rent on time, takes care of her grandchild, and barely makes it. Why should she plan on some crook destroying her life? That doesn't make any sense.
April 2, 2008
9:32 a.m.
Suggest removal
seeingeyeseesall writes:
"I started the thing," DeGrande said. "Like anything else, it went under."
Fine attitude and sense of responsibility. There's the entire problem. A generation or two of Total Jerks, we baby boomers and our offspring....
April 2, 2008
9:49 a.m.
Suggest removal
murcat79 writes:
DeGrande better watch out or he may just end up back where he started, only this time on the other side of the prison doors. But he may just like that becuase he wont have to pay any bills then either.
April 2, 2008
9:51 a.m.
Suggest removal
landsharkdenver writes:
This has nothing to do with Sub-prime and everything to do with greed and crossing the line of ethical and moral conduct.
April 2, 2008
1:29 p.m.
Suggest removal
Valkyrie13 writes:
I say let the Real Estate Commission and the courts deal with it and writing an article to attack Mr. De Grande is bs. And putting his home address is audastic, and disrespectful he does have his own life and giving out his personal information is beyond rude. I know Mr. De Drande personally.
April 2, 2008
1:52 p.m.
Suggest removal
smith writes:
heh.. you guys think I'm an entitled snob!
Apologizers like you are the reason for her predicament. Please give her some sound advice. There are many, many <$100k properties in Aurora.
Again, if you choose not to take the power and responsibility for yourself, someone else will for you. There is no void.
If she could pay her rent on time every month for 20 years, there is no reason she could not pay a mortgage on time for 20 years. And think of the monthly payment she would have if she bought Denver real estate in the late 80s!
April 2, 2008
2:01 p.m.
Suggest removal
LuckyMe writes:
Lucky for us all that we don't have to live the way snobby elitists like smith here thinks everyone should live. Who cares if she rented or owned. She is an American that have the same rights to live how she sees fit that ALL Americans have. Take some responsibility for yourself and leave the rest of us alone with your hightone nonsense.
April 2, 2008
2:03 p.m.
Suggest removal
Bigmama writes:
I know Danny personally. None of you know what he paid for personally without compensation. None of you know how many tennants he let live rent free in thier time of crisis. Posting his address was completely dispicable!!! He has children!!! Should they be threatened and scared for their safety?? I think not. None of you really know what happened or how much control Danny had over any of that money. HE WAS NOT THE ONLY ONE INVOLVED IN THIS!!! Murcat79 what do you know about Danny's bill paying? Are you his personal accountant? ruserios Deneir wasnt paying her bills the government is!!! Did Deneir notify SSI when her daughter was living with her? Or did they both abuse the system to get whatever they could? Did she get compensated for caring for her father and did she notify SSI about that? She getting a free ride on us taxpayers. She is not being responsible for herself. We are!!! BTP have you ever owned a football team? Are you aware of the expense of a football team? Do you have a clue about anything? or are you sucking the system dry yourself? I think all of you should get the plank out of your own eye before you worry about the speck in someone else's
April 2, 2008
2:05 p.m.
Suggest removal
nonayerbsns writes:
Smith: Are we to assume that you, in all your perfectness, are in the process of actually helping people? Do you go to people and offer them sound advice? What exactly is that you do to HELP folks, other than laugh at them when they are down. You, sir, are an a$$hole.
April 2, 2008
2:11 p.m.
Suggest removal
LuckyMe writes:
Valkyrie13 & Bigmama,
Good to know that he has friends. This way when he needs money on his books for commissary, you'll be there for him. And to accept his collect calls from the PEN!!! He deserves what's comin to him. No one has the right to steal. From ANYONE. If he's not alone in this, then let him out his fellow crooks. If you can't stand the heat, get out of this kitcen.
April 2, 2008
2:19 p.m.
Suggest removal
BTP writes:
well Bigmama, if Danny is as perfect as you want everyone to think then why doesn't he come clean and talk to city officials instead of ignoring their calls? Google his name and you will see that it appears the football league has gotten rid of Mr. DeGrande within the past week or so. It also appears that he was in trouble with the Real Estate Commission before in the recent past. I imagine there is quite a bit about Mr. DeGrande that will come out in the days and months to come. Perhaps karma is coming on this type of situation where it sure seems obvious that the rich were getting richer at the expense of the poor and needy.
April 2, 2008
2:26 p.m.
Suggest removal
Bigmama writes:
I NEVER SAID ANYTHING ABOUT BEING PERFECT. we all make mistakes. Luckyme what makes you so sure Danny stole anything from anyone? Btp How do you know who Danny is talking to? do you have a tap on his phone?
April 2, 2008
2:35 p.m.
Suggest removal
BTP writes:
Bigmama, puleeze get a grip. If you actually took the time to read the story that you are posting about you would see this quote:
"City officials say they've tried to contact DeGrande dozens of times, but he never talks to them."
April 2, 2008
2:41 p.m.
Suggest removal
LuckyMe writes:
Bigmama,
The fact that this quote was taken directly from the article "DeGrande said he has no management agreement with the HOA. But he acknowledged that he has collected $100 monthly from each unit, which usually rent for around $800." If he collected money and did not pay the bills (water & trash services now being terminated) that stealing.
April 2, 2008
2:45 p.m.
Suggest removal
Bigmama writes:
Have you personally talked to city officials to know what you are talking about? How do you know what I read? How do you know that story is anywhere near accurate? YOU DONT!!!!! I know him personally. He is very closely connected to my family. YOU need to get a grip. You have no clue how this is affecting him and all the people around him. You really dont know how he is handling this situation!!!!!!!!!!
April 2, 2008
2:46 p.m.
Suggest removal
BTP writes:
If there are 60 four-plexes (60 x 4 = 240 homes) in this HOA and Mr. DeGrande collects $100.00 per unit that would be $2,400 per month that he has collected and yet the bills haven't been paid since summer? Holy guacamole! Someone is making money. Even if some of the homes are in foreclosure now, how many thousands of dollars have been collected up until this point by this fake HOA? And now these people have been living in filth, with rodents, and backed up sewers, etc. Its disgusting. Sorry bigmama, there is nothing you can say about Mr. DeGrande that equals these poor people having to live like this and him refusing to pay a water or trash collection bill. yuck!
April 2, 2008
2:50 p.m.
Suggest removal
BTP writes:
Well Bigmama, perhaps you should call the reporter and set the record straight since you apparently know more than the poor renters who have been condemned out of their homes, you know more than the city officials who are quoted in this story, and you know more than the investigative reporter who has been working on this. Pick up the phone..set the record straight for poor Mr. DeGrande. (and now excuse me while I puke)
April 2, 2008
3:08 p.m.
Suggest removal
Bigmama writes:
Why was that Danny's responsibility? Who else had access to that money is the point. Do you know whether or not it was up to Danny to get those bills paid? Danny was not the only person in that HOA hello! and seriously it is up to me where and how I live. If I didnt like the living situation I MOVED!!!! I didnt cry about someone doing something to me. I am the only one that has control over ME. I have had to live in my car before. Those people have section 8 they can live anywhere they want. On a free ride!!!!!! while I worked and slept in my car my taxes paid thier rent. And if you read the article Deneir said she NEVER saw any rats just 1 mouse. Holy god I have had mice in every house I lived in and it had nothing to do with cleanliness. Have you been to that property? You really dont know anything about this except for what you have heard. What have you seen? What have you personally experienced because of this? I have never seen a completely true story in the paper. EVER!!!
April 2, 2008
3:13 p.m.
Suggest removal
LuckyMe writes:
Cry me a river Bigmama. Money came in but no money came out to PAY THE BILLS. He's a crook to two ways about it. And yes, I have talked to city officials before. Quite an interesting experience. Can't wait to do it again. I wouldn't be so quick to defend someone that STOLE money from the less fortunate. Don't worry though, even slumlords get representation in court. Like I said, can't stand the heat......
April 2, 2008
3:13 p.m.
Suggest removal
Valkyrie13 writes:
Well said Bigmama, for those of us who actually know Danny, know the exact situation. So this article is just a bunch of accusations and yes it is affecting all of us around him. I think the press should have gotten the straight story about some of the tenates living in these units and things that Danny supposedly said. Most of them have their rent paid by the government, and if anything it should be on the property owners to keep they're properties in decent shape.
April 2, 2008
3:19 p.m.
Suggest removal
Informative writes:
Lets start from the top the tenants were section 8 and never paid their own rents. second never ever was 100 collected from each tenant by anyone. third every person that was evicted or moved was done by the City. Degrande let the tenants stay there for sixty days after the city stopped paying and the city ordered the tenants to leave not degrande. he managed fifteen or so units not all 78 they were managed or controlled by someone else. He said he stopped recieving money for bills from people over a year ago and paid many bills with his own personal accounts. why is he the bad guy????? and if it is so bad why are the tenants still there, they could move anytime under those conditions. I am glad we all believe in the american system innocent until proven guilty
April 2, 2008
3:31 p.m.
Suggest removal
Bigmama writes:
oh dont worry about me. I love the heat in the kitchen it is my favorite place to be. So you talked to city officials about Danny? Why werent you a contributing writer on this story? I was responsible for all the houses I rented. I had to pay to have the property cared for. OUT OF MY OWN POCKET!!! The reporters should get some more information on these tenants. I can guarantee thier stories wont be as pretty as they were painted . Then the truth of the frauding might actually come out. I have lived in 1 low income before. THE FRAUD AND ABUSE of the system is disgusting.
April 2, 2008
3:33 p.m.
Suggest removal
LuckyMe writes:
Informative, are you huffin glue? You aren't seriously bashing the tenants for being on section 8 when your own "Golden Boy" here filed for bankruptcy in 5/2005? Man how do you breath when you head is stuck in the sand?
April 2, 2008
3:35 p.m.
Suggest removal
LuckyMe writes:
Gee Bigmama when you buy a property, you're SUPPOSE to be responsible for the care and up keep of it.....OUT OF YOUR OWN POCKET.
April 2, 2008
3:39 p.m.
Suggest removal
BuffsGirl21 writes:
He is a bad guy for his INACTION. I attempted to buy one of the foreclosed units in which case DeGrande's company who managed the HOA should have provided documentation as to the HOA's activities. I had emailed, called, faxed and even drove down to his office. I NEVER heard from Danny DeGrande. His receptionist was lovely, however it would have been nice to OCCASIONALLY receive some form of response! It appears now that I was very lucky not to have gone through with the sale, but this entire problem could have been avoided!
It all boiled down to this. In the HOA by-laws, it says that the HOA will provide a Master Insurance Policy for all the units in the HOA. However, with so many units being foreclosed upon and not paying dues, the HOA could not afford the Master Insurance Policy. AND without this insurance, no bank would provide financing for the foreclosed units to be purchased. Kind of a cyclical problem, no?
Had the HOA been dissolved, problem solved. *shrugs* that's just where I was coming from.
April 2, 2008
3:42 p.m.
Suggest removal
Bigmama writes:
Not one good thing has been said about Danny. luckyme & btp you know nothing about Danny or the KINDNESS & GENEROSITY he has shown to people. These people could have moved anytime they wanted to. Do any of you know when the last time was Danny received any money from that HOA?
April 2, 2008
3:45 p.m.
Suggest removal
smith writes:
It's nice to hear the full story start to come out. So the reason they stayed put for 20 years is because they haven't paid a market rent for 20 years.
So now they are at the whim of both a land (possible slum)lord and the government bureaucracy.
Am I really supposed to have sympathy for anyone in this situation? Other than, of course, the taxpayer?
I believe any able-bodied American is capable of working an honest 40 hour week and owning a modest residence. LuckyMe: you apparently don't. I hope someday you may find personal happiness.
April 2, 2008
3:48 p.m.
Suggest removal
Bigmama writes:
Hey luckyme I RENTED DID YOU READ THAT? And when you rent you are responsible for the property.
April 2, 2008
3:54 p.m.
Suggest removal
Bigmama writes:
Smith it doesnt seem they the tenants paid for anything!!!! I struggled without child support or government assistance and I made it on my own with 4 kids. And I am willing to bet they didnt clean up after thier animals!
April 2, 2008
4:02 p.m.
Suggest removal
LuckyMe writes:
I see some of your points, but then again I find myself asking this question. Didn't he realize what type of property he was buying or that the evil renters were not paying their own rent? When I bought my house (before I hit the age of 25. Sorry smith, no renter here), I researched the heck out of every property I considered buying. If he is a savvy business person, one would think he wouldn't be interested in buying property where the tenants needed section 8. Seems like a risky investment. But then again, he is a mortgage broker so he should know all about that. Seems to me like he made his own bed.
April 2, 2008
4:31 p.m.
Suggest removal
OhBrother writes:
Makes sense to me Lucky, a mortage brooker who buys property to rent out to lower income family's knows what situation they are getting into.
Im not here to sling mud at this guy, I have no knowledge of him other than waht is reported. But I continue to see the section 8 comments.
If someone is on section 8 then MAYBE they don't have enough or any money to move WHEREVER they want to? If soemone has mental and physical handicaps that prevent them from working as much as a normal American,(or at all) why wouldn't they need goverment assistance? I thought that was the whole idea behind it? If the government isn't doing enough due dillegence on the people they are giving assistance to, then they need to re structure the process.
April 2, 2008
4:37 p.m.
Suggest removal
Bigmama writes:
It seems to me they all made thier own beds!!! I just dont think those people have anything to complain about. They could move and have it paid for at any time.
April 2, 2008
4:43 p.m.
Suggest removal
Bigmama writes:
Ohbrother do you know how often people lie on government applications for assistance? ALL OF THEM!!!! Section 8 recipients can move any time they want and WE PAY FOR IT!!!!
April 2, 2008
5:13 p.m.
Suggest removal
BTP writes:
I'd sure like to hear from someone other than Mr. DeGrande's friends who obviously have slanted views of what has happened. I'd like to hear from more people who have experienced life at the luxurious 59th Avenue Townhomes. yes, I did drive by the townhomes today to get an eyefull. I looked at one of these units years ago for a rental and it was very nice. Not anymore. These units are a complete mess. A few years ago Mr. DeGrande and his cronies were buying these places up for close to $200,000 each unit! What a freaking scam. These places can't be worth 1/4 of that amount and I highly doubt they were even when the market was good. For the people who rent and own and are trying to live there, they have my sympathies and I hope Arvada or Section 8 or Red Cross helps relocate them as best as possible. I really hope that the proper authorities are looking at this, it sure appears to be some sort of mortgage fraud or equity skimming. I guess even the mighty has to fall at some point....its not all free flowing money, owning a home worth over a million dollars and owning a semi-professional football teams anymore huh Mr. DeGrande?
April 2, 2008
5:23 p.m.
Suggest removal
Informative writes:
the american dream should be kept from everyone right ???? what a joke
April 2, 2008
5:24 p.m.
Suggest removal
joggle writes:
People asking what sub-prime mortgages have to do with anything in this story probably don't know a lot about the causes of the Great Depression either. In a nutshell, there are a lot of people out there who can't/don't invest wisely and don't have assets or sufficient income or an investing history so should not be able to borrow a lot of money. If tons of such people are able to get huge loans that they can't possibly afford for long, they will foreclose/default on the loan (which seems to be happening in this case in addition to other problems). When lots of people foreclose at the same time, the banks end up with a lot of bad debt which even they can't afford. This can cause other people to get worried and pull their money out of the banks, causing a run on the banks and forcing them out of business. If many banks go out of business then even people and businesses with good credit can't get loans at affordable rates which causes a major recession/depression to occur.
So if you (assuming you have credit) want to keep getting loans at reasonable rates or want your employer to be able to get loans then it's in your own interests that people not be able to get subprime mortgages that they likely won't be able to afford.
April 2, 2008
5:33 p.m.
Suggest removal
Informative writes:
subprime has hit everywhere and especially some beginning investors without a strong support system to make it through the times the guy owns a football team a million dollar house he made that from stealing $2400 per month come on this is not making a whole lot of sense and if he stole the money why is he still taking calls and still around if he was a crook he woould have left town along time ago
April 2, 2008
5:35 p.m.
Suggest removal
LoFat writes:
Reasons for choosing to rent: The roof leaks, call the landlord; the toilet backs up, call the landlord; the furnace needs repaired or replaced, call the landlord; the property needs painted, call the landlord; property taxes are due, it is the landlord's headache. Also: not being credit-worthy enough for a loan; income insufficient to qualify for a loan; not able physically or mentally to perform routine home maintenance. The list goes on.
This also assumes a person can find rental properties with ethical and responsible owners/landlords. I am advised that there are many out there.
The sub-prime mortgage fiasco has to do with the greed of the developers and the purchasers. Many people have a "Brady Bunch" mentality. They see extravagant lifestyles on television and believe they are entitled to the same lifestyle. Most over-bought on physical size; Five bedrooms when three would do. Large family rooms and dens when a living room would do. Three bathrooms when one or two would do. Now pay the energy costs necessary for these monsters. You also have taxes and insurance bills too large to handle.
And the last fact, some people are just not qualified to be homeowners.
April 2, 2008
5:36 p.m.
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59th_resident writes:
I dont understand what all the fuss is about. People get evicted from places everyday. Fortunately for these people they live under section 8. Which i do also. section 8 will still pay for their housing no matter where they live. their application was not pulled and cancled. that being said... I want to say mr. de grande is a very curtious gentleman. he actually let me stay in my place at 59th for 3 months with out rent until section 8 would approve my application. So i do know that he is a caring man not a person that just wants to kick people out onto the curb.
April 2, 2008
5:41 p.m.
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Bigmama writes:
so btp you have personal knowledge of Danny's financial history? did you help pay his house off and no one told us or what? Do you have the knowledge of whether or not his house is paid off? Did you read the part of the article that says his home is in forclosure? Where is this free flowing money you are referring to? Do you know what Danny gets paid? Or should I say what he doesnt get paid? I bet he would love you to pay his bills. Something else you have NO KNOWLEDGE OF!!!!! Not only do those tenants have your sympathy they have your money too. It is up to them where they live NOT Danny. They can move where ever and when ever why dont you get that? do you know how truthful the tenants are or were on thier assistance applications? He MAY have bought them for 200,ooo but what did he have to sell them for? I would say he took a loss there.
April 2, 2008
6 p.m.
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BTP writes:
Bigmama, I go to my 40 hour per week job, take care of my family, pay my bills and do the best I can. I don't look for get rich quick scams and don't try to get myself ahead at the expense of the poor, disabled, elderly, immigrant type people. If your friend Mr. DeGrande did nothing wrong then he should have nothing to worry about. I have a feeling there is alot more to this than reported here. My understanding is that Mr. DeGrande is facing other lawsuits and has had judgments issued against him for his "business practices." But again, if he is the saint you make him out to be I'm sure he'll be AOK. I imagine the lawsuits and troubles facing Mr. DeGrande are just starting. But if you are right and he's some sainted man who has done nothing wrong and who helps these people more than he hurts them, then fine. In the meantime, lets just wait and see, shall we?
April 2, 2008
6:02 p.m.
dano writes:
(This comment was removed by the site staff.)
April 2, 2008
6:07 p.m.
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BTP writes:
Bigmama, as for paying $200,000 for something worth alot less (an equity skimming type venture), the investor is in cahoots with the broker and the lender, the surplus of money comes at the closing on the purchase. Also, the initial investor(s) set up this bogus HOA. Also, in this case, these townhomes have probably changed owners a few times and now most are in foreclosure. Mr. DeGrande and the other investors most likely made lots and lots of money at the front end and now the investors are defaulting on the loans and allowing virtually all of the units to go into foreclosure. IN the meantime, the tenants were the ones living with rodents, living with sewage backups, living with no garbage collection and no water and the so-called owners are no where in sight. Thank goodness someone is helping these people relocate.
April 2, 2008
6:15 p.m.
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Bigmama writes:
It was ONE mouse. If he had to sell for less how is that skimming anything? and you just said it there are alot of people involved in this. Lets not single out Danny. Thats my point. Did his kids do anything to anyone to deserve having thier address blasted over the internet? Do they deserve to be in fear of one of you judgemental people attacking them?
April 2, 2008
7:04 p.m.
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FormalistAesthete writes:
"I am stuck and don't know what to do."
This guy owns real estate company and a professional sport teams but he expects us to believe that he doesn't know how to run a homeowners association???
April 2, 2008
7:13 p.m.
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hoosierddy writes:
A little off topic, but there is a section eight complex near my house with quite a few Hummers and Escalades parked there!
April 2, 2008
7:30 p.m.
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BTP writes:
Bigmama, I agree with you on one point. Its not cool to post private information on a newsblog. However, I haven't seen anyone attacking Mr. DeGrande's kids. Lets keep things in context here.
April 2, 2008
7:31 p.m.
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Bigmama writes:
He hasnt been running the HOA! Hey rememberthis go watch the video. Ol girl who lives there said it was only 1 mouse. Maybe you should know what you talking about before you speak and embarrass yourself. That being my point exactly. There definetly had to be more than one mouse. The story is being greatly exagerated on ALL SIDES!! What else has she embellished? Because it cant be the media. We all know they are always accurate and completely true!
April 2, 2008
7:38 p.m.
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Bigmama writes:
There is a comment up top about beating Danny to within an inch of his life. I SAID Should his children have to FEAR that happening. Especially after thier address was blasted all over the world. I didnt say anything would happen. Why should the kids have to worry about that? Shouldnt thier concern be school and education. You know people do crazy things for crazy reasons.
April 2, 2008
7:42 p.m.
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wow writes:
One mouse does not an infestation make. Or is all this just a big conspiracy to do a hostile take over of that football team?
I'm sure Danny is a great guy to hang out with. Slumlords are people too, heck I was once friends with one.
240x100=24,000 per month. Somebody forgot a zero earlier. Soooo, where'd you say the money went, without his knowledge? I think with those kinds of stakes, I'd have been paying better attention.
I think he knows EXACTLY what's going on.
Open your eyes and stop defending him publicly, so you can avoid the excrement storm coming his way.
April 2, 2008
7:47 p.m.
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wow writes:
I don't know what that figure of 60 four-plexes was before...should be 18. 18x4 units = 72 x $100 = 7,200. Alot less, but still enough to cover expenses.
April 2, 2008
8:03 p.m.
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BTP writes:
DeGrande was reported to purchase 18 four plexes initially. However, at some point EVERY four-plex and every unit somehow came under the 59th Avenue HOA. But the story above says there are 60 four plexes, which would equal 240 units. However, after driving by I don't think that number is accurate either, it doesn't seem quite that big but I didn't count them. Whatever the real number is, each unit paying $100 to the bogus HOA every month would add up very nicely for whomever is profiting (apparently, the HOA President, Mr. DeGrande).
April 2, 2008
8:17 p.m.
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wow writes:
Even if he is not the only responsible party, the newer owners of those units should have been paying the HOA fees to whomever was collecting for the HOA, adding up very nicely indeed, till every one forecloses anyway. "I don't know what's going on" is not an answer, it's criminal negligence at best, embezzlement otherwise.
April 2, 2008
10:26 p.m.
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happymike44 writes:
Lat me point out a few things,disability pays so little you are lucky if you can pay for the food to eat each month.Also it does not matter section 8 or not everybody deserves a place to live.We live in the richest nation on the planet.Yet some people are making tons of money off the back of the poor and ignorant.I don't know the whole story,but I can tell you one place I owned in the treasurer moved out and the fund was over sixty thousand short.This guy bought himself a home after renting in my neighborhood.So if this Mr Degrande is a slum lord let him explain it in court.
April 2, 2008
10:46 p.m.
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dftoad writes:
I see OurSportsCentral is reporting this:
The United Indoor Football Association (UIF) has purchased the assets that are the Colorado Ice in a deal reached last week in Colorado.The league purchased the team from former owner Danny DeGrande for an undisclosed sum.
UIF Executive Director Paul Aaron said that the increased demands of the former owner's real estate business interests made it difficult for him to give the Colorado Ice the attention the team deserved.
"The Ft. Collins market is a great sports market and a great football market," Aaron said. "The league felt that the fans and the community's best interests were not being served under the circumstances and decided to take action before the 2008 home schedule began".
Maybe now Danny can pay the 59th St. water and garbage bills!
April 2, 2008
11:39 p.m.
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Completeloss writes:
Wow- all these investors who are supposedly in cohoots with Danny got ripped off too!
April 3, 2008
6 a.m.
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BTP writes:
How much you want to bet that Danny was not managing his football team any better than he was managing the 59th Avenue Townhome HOA? Fortunately, the league had enough money to get rid of him. Its too bad nobody did the same for the people living at 59th Avenue and the other communities DeGrande did this.
April 3, 2008
8:02 a.m.
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MGD writes:
Plenty of people have made money off deals like this. Maybe this guy just got in at the wrong time. Who knows what he took if anything. He got into this section 8 housing deal to make money, not friends.
If he was a nice guy, good for him. He made some financial mistakes but will likely file bankruptcy while many of his assets are hidden or protected. The section 8 tenants will find other section 8 housing.
Maybe someone will buy and re-furbish these units or scrape them and build luxury condos. Either way, this stuff happens and there isn't much that can be done about it.
I think the point that Smith was trying to make was that if you rent, you give up control. Smith may think that everyone can and should buy a home but that's really not true. I've rented in the past and I know that renters are at the mercy of other people. He is right that homeowners have more control (and responsibility) than renters.
April 3, 2008
10:34 a.m.
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murcat79 writes:
BigMama you asked me if I knew Danny personally and my answer to you is,YES!!!! And you want to keep bringing up his kids, if he was so worried about his kids then he would be taking proper care of them. I know for a fact that he hasn't even paid a single cent for his youngest child and before you go all out defending him maybe you should get all of YOUR facts straight. I know first hand of the horrible things he has done to people and if the only way he can be repaid for them is by people coming down on him for being a shady property owner then so be it.
April 3, 2008
1:40 p.m.
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Bigmama writes:
You do not have your facts straight. And you apparently dont have the slightest clue about the youngest child!!!! You are funny even! He takes very good care of his children and the children around him. As I said Danny is closely connected to my family. You must be listening to a scorned story. Oh but I forgot all of you have the complete truth about Danny.
April 3, 2008
3:04 p.m.
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BTP writes:
methinks that the words "closely connected to my family" are quite possibly the same thing as "in the same family." Otherwise, how would someone have so much direct and personal knowledge of Danny DeGrande?
April 4, 2008
12:05 a.m.
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Completeloss writes:
Hey Bigmomma do you go with Danny to strip clubs in his Ferrari? Maybe Vegas or other points in between.(guess what I know him too!!) I think I have a good ideal of where his(other peoples money) went. Enjoy Club-Fed.
April 4, 2008
9:37 a.m.
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murcat79 writes:
Bigmama I have every clue as to what a loser he is and the fact that he puts on some kind of front about being some great guy makes me sick and you are just blinded by his phony front. I know everything about his youngest child because he's like a nephew to me. I know for a fact that there were times right after he was born that your beloved DeGrande couldn't even cough up enough money to buy him diapers but he sure had enough money to blow at the strip club. I hope he gets whats coming to him and for his sake hopefully he isn't recognized by any fellow inmates.
April 4, 2008
11:32 a.m.
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LoFat writes:
I see an awful lot of hate and "class resentment" in many of the postings on this topic. No one in this world is entitled to or deserves anything that they are not willing to work for. The truly sick and disabled need and deserve all the help necessary to maintain their dignity. The high school dropouts, drug and/or alcohol abusers, lazy, welfare procreators, and others slopping at the welfare trough need to find out that there is no such thing as a "free lunch". Start responsibly contributing to society and quit crying that you "deserve" or are "entitled". The American people are more than willing to give anyone who asks "a hand up". I see the day rapidly approaching that there will no longer be "a hand-out".
April 4, 2008
1:09 p.m.
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BTP writes:
I don't see that either of the displaced tenants in this story are "alcohol abusers, lazy, welfare procreators, and other slopping at the welfare trough." The two women who are in this story who receive some sort of assistance have disabilities. The other lady who was interviewed just sounds like a tenant who rented one condo and got booted because the owner of the unit went into foreclosure and now she is facing uncertainty again in the other unit she now rents. It is flat out wrong to issue judgment on the women in this story and to issue such harsh labels to them.
April 8, 2008
4:46 p.m.
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cantsell writes:
He helped us purchase our first home and now we can't sell it bcz he had one of those "sketchy" appraisers. DeGrande is a very bad person, do not trust him or his friends. He will end up in DOC behind bars, while he friends who had to go back to their old jobs guard him. He deserves to lose his license and should have to pay back the millions he pocketed to make a buck. How do you think he purchaed that football team?
August 25, 2008
11:35 a.m.
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DaniDeGrande writes:
Let me guess NONE of you are people that ACTUALLY KNOW DANNY DEGRANDE!
he is my father!
And I know the REAL story! You people think you do cause you read this dumb article! Let me tell you something!
Danny DeGrande is a nice man. When he has NO MONEY he bought his SON a CAR for his sixteenth birthday. And He does not need to be talked about like you guys are talking about him. He let those Section 8 People live there for 90 days after the Section 8 stopped paying! he is a caring man, and I know after living with him for 15 years!!!!!
August 25, 2008
11:37 a.m.
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DaniDeGrande writes:
And he purchaed that football team with MONEY HE EARNED! It wasnt just an out of the blue thing. He didnt purchase it he made it then purchased the name from the UIF! God you people make me sick!
August 26, 2008
11:25 a.m.
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DaniDeGrande writes:
Kian Benjamin IS A HAPPY HEALTHY TWO YEAR OLD! AND DANNY DOES WHAT HE CAN!