United Development Funding IV fka UDFI

[ofirm]

My understanding most loans (if not all) whose proceedings were used
to pay back the debt were simply not extended. due to the cross
collateral nature of them, Centaurion simply had to find alternative
financing and the loans were paid in full. if I had to connect dots
over here, I would have guessed that Bass was trying to prevent
Centaurion from being able to refinance the debt. he was hoping to
destroy Centaurion as well and maybe to take over some of their
assets as well. I have not seen anything in discovery regarding that
period yet, so its only my thought. in any case, I am sure that
today's builders' environment would render the collateral value
as pretty high vs loan balances. these are mostly advanced
projects (well on their way towards development) in a market that
is looking for such projects.