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Mike North announcement
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Author:  spadaesq1 [ Mon Jan 02, 2012 2:38 pm ]
Post subject:  Mike North announcement
From chicagoradioandmedia.com "There is some bigger news happening with Mike North, though. Today, FOX Sports Radio will be announcing that they have signed Mike North to agreement to be the nationally broadcast networks #1 fill-in host for ALL of their radio shows. Like Steve Kerr coming off the bench to help the Chicago Bulls win championships, North will be FOX Sport Radio's "6th Man," coming off the bench whenever needed on the air. With approximately 20 weeks of vacation time coming for FSR's main hosts, Mike North will keep plenty busy on the sports radio network."
"There are now a great many ways that fans can see and hear Mike North. However, what you will NOT be hearing is Mike North in the Chicago White Sox broadcast booth. That rumor, started at the end of last month and spread by a Chicago sports podcaster, is absolutely 100% untrue. While Mike North remains very good friends with Chicago White Sox Chairman Jerry Reinsdorf and is a lifelong fan of the southside ball club, he has not ever been contacted to become a radio booth broadcaster for the team. He has no plans whatsoever to replace Darrin Jackson, who still has many years to go on his radio contract and is well liked by the club. He is open to doing something with and for the Chicago White Sox at some point in the future, but as of today, there are no plans in the works. Mike North tells CRM that this wild rumor caught him totally by surprise."
My prediction was wrong.
Author:  Chint [ Mon Jan 02, 2012 3:05 pm ]
Post subject:  Re: Mike North announcement
Quote:
Today, FOX Sports Radio will be announcing that they have signed Mike North to agreement to be the nationally broadcast networks #1 fill-in host for ALL of their radio shows.


Yawn

I don't know if this was ever posted:

Quote:
Lakefront property. In an update, radio host Mike North has again cut the asking price of two adjacent vacant lots he owns on Murphy Lake in Park Ridge, to $699,000 and $665,000.

North, who originally planned to build a dream house for himself on one lot and have his wife's sister and her husband build on the other one, paid $2.1 million for the lots in 2005. He first listed them several years ago for $1.4 million and $1.3 million. He later cut his asking price to $1.1 million each, and then to $889,000 each.
Author:  Zippy-The-Pinhead [ Mon Jan 02, 2012 4:20 pm ]
Post subject:  Re: Mike North announcement
Chint wrote:
Quote:
Today, FOX Sports Radio will be announcing that they have signed Mike North to agreement to be the nationally broadcast networks #1 fill-in host for ALL of their radio shows.


Yawn

I don't know if this was ever posted:

Quote:
Lakefront property. In an update, radio host Mike North has again cut the asking price of two adjacent vacant lots he owns on Murphy Lake in Park Ridge, to $699,000 and $665,000.

North, who originally planned to build a dream house for himself on one lot and have his wife's sister and her husband build on the other one, paid $2.1 million for the lots in 2005. He first listed them several years ago for $1.4 million and $1.3 million. He later cut his asking price to $1.1 million each, and then to $889,000 each.
North then added "da economy is fine. Da Vegas Casinos were really crowded last time I was der."
Author:  bigfan [ Mon Jan 02, 2012 4:56 pm ]
Post subject:  Re: Mike North announcement
Norths Property!

CC: Pursuant to Short Sale.

Mr North OFFICIALLY "UNDER WATER" on this one!
Author:  Chint [ Mon Jan 02, 2012 6:35 pm ]
Post subject:  Re: Mike North announcement
Funny, BigFan.

The Trib didn't mention the short sale! But, damn! You're right!

http://www.prairieshore.com/homes/312-D ... 2/?index=2

No wonder Mikey is looking for more shifts at Fox!

The only thing that saddens me about this is that the whole initial transaction was typical of the excesses of the real estate bubble which artificially raised housing prices across the region.

Is Mikey going to lose some money? Probably. But he isn't going to be homeless. There are many people who are underwater because they didn't have any other housing options in an inflated market and were hoodwinked by lenders. These people are the collateral damage for the banks and get-rich-quickers like Mike.
Author:  Zippy-The-Pinhead [ Mon Jan 02, 2012 6:50 pm ]
Post subject:  Re: Mike North announcement
Chint wrote:
Funny, BigFan.

The Trib didn't mention the short sale! But, damn! You're right!

http://www.prairieshore.com/homes/312-D ... 2/?index=2

No wonder Mikey is looking for more shifts at Fox!

The only thing that saddens me about this is that the whole initial transaction was typical of the excesses of the real estate bubble which artificially raised housing prices across the region.

Is Mikey going to lose some money? Probably. But he isn't going to be homeless. There are many people who are underwater because they didn't have any other housing options in an inflated market and were hoodwinked by lenders. These people are the collateral damage for the banks and get-rich-quickers like Mike.
It looks like he is going to lose close to $800,000 when all is said and done (don't forget the architectural plans :wink: )...that's a pretty big hit for anyone. I'm betting that whatever money he had set aside during his "boon years" is dwindling quickly. Personally I hope he banked his cash but I doubt it.
Author:  bigfan [ Mon Jan 02, 2012 6:50 pm ]
Post subject:  Re: Mike North announcement
Chint wrote:
Funny, BigFan.

The Trib didn't mention the short sale! But, damn! You're right!

http://www.prairieshore.com/homes/312-D ... 2/?index=2

No wonder Mikey is looking for more shifts at Fox!

The only thing that saddens me about this is that the whole initial transaction was typical of the excesses of the real estate bubble which artificially raised housing prices across the region.

Is Mikey going to lose some money? Probably. But he isn't going to be homeless. There are many people who are underwater because they didn't have any other housing options in an inflated market and were hoodwinked by lenders. These people are the collateral damage for the banks and get-rich-quickers like Mike.


Mike North should not be declaring a "Short Sale" on his property. It's not even his primary residence! I forgot what he paid? Maybe $1M a lot? at $1.6M asking, maybe sells around $700K? Time to write a check!

Or knowing North he told the Broker to clearly say "SHORT SALE" not knowing what it meant.
Author:  koach klaus [ Mon Jan 02, 2012 6:57 pm ]
Post subject:  Re: Mike North announcement
What's with you carrying the Mike North flag around again? I thought you had distanced yourself from him and wouldn't talk about it? Maybe it had to dow with that awesome Andre Dawson interview you did in the power saw aisle of a Sears store?
Author:  SomeGuy [ Mon Jan 02, 2012 7:04 pm ]
Post subject:  Re: Mike North announcement
koach klaus wrote:
What's with you carrying the Mike North flag around again? I thought you had distanced yourself from him and wouldn't talk about it? Maybe it had to dow with that awesome Andre Dawson interview you did in the power saw aisle of a Sears store?


Koacj Klaus is bringing the fire and passion!
Author:  Chint [ Mon Jan 02, 2012 7:04 pm ]
Post subject:  Re: Mike North announcement
My understanding of a short sale is simply that the price received for the property will be insufficient to cover the debt.

He bought the property for $2.1 million. We don't know how much he put down or the terms of the mortgage--20% would have been over $400 K.

Conservatively, he was likely carrying at least $1 million debt.

The short sale has to be approved by the creditor--and if it is, he still could be liable for the difference between the loan and the sale price--plus whatever other liens are on the property.

My guess is that his assets are liens-ville given the way he did business.

Does anyone know what happened to the civil suit related to the Hernandez ponsi scheme? North was named as a defendant. Depending on what is going on with that there could be more liens-ville on his ASSets.
Author:  Rod [ Mon Jan 02, 2012 7:44 pm ]
Post subject:  Re: Mike North announcement
I can't imagine a bank would approve a short sale when he also has his own home and all those Vegas condos, even though he may be upside down on them too. I'd love to read his hardship letter.

Dear Sir:

I got screwed cuz Be Googled dis guy we waz goin' inta bizness wit an' everyting looked good. Den da 'conmy crashed an da guy went ta jail. Dere's only so many ads dat da 'Lectrician's Union an' da Village a Rosemont is willin' ta buy on da Youtube. So dat's why I need dis short sale.

Sincerely,

Mike North
Author:  bigfan [ Mon Jan 02, 2012 9:04 pm ]
Post subject:  Re: Mike North announcement
Joe Orr Road Rod wrote:
I can't imagine a bank would approve a short sale when he also has his own home and all those Vegas condos, even though he may be upside down on them too. I'd love to read his hardship letter.

Dear Sir:

I got screwed cuz Be Googled dis guy we waz goin' inta bizness wit an' everyting looked good. Den da 'conmy crashed an da guy went ta jail. Dere's only so many ads dat da 'Lectrician's Union an' da Village a Rosemont is willin' ta buy on da Youtube. So dat's why I need dis short sale.

Sincerely,

Mike North


This s what I have explained to a few people. Short sales are to help people get out of a bad situation, not to help people with lots of money from having just some money.
Author:  good dolphin [ Tue Jan 03, 2012 9:09 pm ]
Post subject:  Re: Mike North announcement
bigfan wrote:
Joe Orr Road Rod wrote:
I can't imagine a bank would approve a short sale when he also has his own home and all those Vegas condos, even though he may be upside down on them too. I'd love to read his hardship letter.

Dear Sir:

I got screwed cuz Be Googled dis guy we waz goin' inta bizness wit an' everyting looked good. Den da 'conmy crashed an da guy went ta jail. Dere's only so many ads dat da 'Lectrician's Union an' da Village a Rosemont is willin' ta buy on da Youtube. So dat's why I need dis short sale.

Sincerely,

Mike North


This s what I have explained to a few people. Short sales are to help people get out of a bad situation, not to help people with lots of money from having just some money.


I believe it was reported that Hernandez was the banker.
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