Orange County Choppers Foreclosure = Wrong Acronym, Relax

According to an article on Huffington Post titled Key Senator Urges Obama To Push Foreclosure Relief In State Of The Union, “The FDIC has been pushing to impose new requirements on the operations of those divisions, which are known as mortgage servicers. The agency has been engaged in heated negotiations with other regulators at the Federal Reserve and the Office of the Comptroller of the Currency (OCC).”
People: The OCC is not Orange County Choppers, it’s the Office of the Comptroller of the Currency (OCC). Sounds funky and official, and I highly doubt they cruise around in choppers.
I’m sure Orange County Choppers is safe… Don’t let it keep you up at night.
Update: Maybe it is real! Check out this article I just found: Orange County Choppers’ HQ faces foreclosure
Aaron Schoenberger is Founder of The Brainchild Group — a world-renowned Internet marketing agency that specializes in Social Media Marketing and Search Engine Optimization (SEO). He’s known for his work with celebrities, top restaurants, automotive manufacturers, professional athletes, educational institutions, luxury brands and Fortune 500 companies.

Orange County Choppers’ HQ faces foreclosure

Orange County Choppers’ HQ faces foreclosure The lender that financed Orange County Choppers‘ new headquarters in the Town of Newburgh has filed a foreclosure action against the builder of custom motorcycles, alleging that it missed its July mortgage payments.
Orange County Choppers has two mortgages through GE Commercial Finance Business Property Corp., one for $11 million and one for $1.5 million.
The foreclosure action claims that the Choppers missed mortgage payments of approximately $96,400 and $14,000 due on July 1.
The Choppers stopped making mortgage payments in order to put pressure on the lender to modify the terms of the loans, according to Choppers’ lawyer Richard Mahon. Mahon said that when the headquarters was built in 2007, it was valued at about $12 million. Because of the economic downturn, the building is now worth between $7 million and $8 million, he estimated.
“This is just a bump in the road,” Mahon said. “We believe the parties will reach a resolution and the headquarters will continue in this location.”
GE Commercial Finance spokesman John Oliver declined to answer questions about the suit, citing confidentiality.
“We worked very hard to try to come up with a better outcome, but in the end we had to make a business decision based on our agreement, and we did,” he said.
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OCC Bankrupt: Orange County Choppers Foreclosure Just Acronym Confusion

OCC Bankrupt: At the moment the internet is buzzing about the Orange County Choppers foreclosure. Is this true or not? The fans of Paul Sr and Paul Jr allover the world may relax.
The hole fuss about OCC foreclosure is true, but we’re not talking about Orange County Choppers, the American company specialized in customizing motorcycles. The OCC acronym also stands for Comptroller of the Currency which indeed is bankrupt. An article in Huffington Post speaks about the OCC foreclosure: “The FDIC has been pushing to impose new requirements on the operations of those divisions, which are known as mortgage servicers. The agency has been engaged in heated negotiations with other regulators at the Federal Reserve and the Office of the Comptroller of the Currency (OCC).”
As about the Orange County Choppers lawsuit, it started in December 2009 because Paul Sr urged his son to sell 20% of his shares in Orange County Choppers saying they had a previous agreement. Paul Sr also asked for $1 million for damages for misappropriation of assets. Another reason for Orange County Choppers foreclosure confusion is the company that builds custom motorcycles moved their headquarters in Town of Newburgh.
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