… 11 bankruptcy.

The 20 largest creditors in the case have claims worth more than $18 million. Wachovia Financial Services, the largest creditor, has a $10.5 million claim that includes an aircraft loan guaranty. Wachovia in October increased the amount of Miles Properties’ cash flow required to be held in reserve, which affected the company’s working capital.

Miles Properties has 15,000 to 20,000 residents who have not yet been affected by the Chapter 11 bankruptcy filing; but it …

Tags: Chapter 11 Bankruptcy Chapter 7 Bankruptcy Daniel Miles Miles Properties Inc. Wachovia

… terms of loans that are in default or delinquent.

The San Francisco Chronicler says: "As Wachovia Corp. struggles under a souring portfolio of loans inherited from an Oakland company, the nation’s fourth-largest bank is proving among the least willing to modify mortgages in ways that would help local borrowers hold on to their properties, housing rights groups claim."

This is not surprising, Wachovia recently suffered under suspicions that it would be one of the next …

Tags: Foreclosures loan defaults Wachovia

… or access to the funds, necessary to repay all of its outstanding obligations to the Holder, Wachovia, Arvato and its other creditors,” Image said in a statement.

The possible bankruptcy filing doesn’t come as a complete surprise to those in the entertainment industry because Image Entertainments has been experiencing challenges in trying to increase its profit share of the Blu-ray disc market and still depends heavily on DVD sales which fell by more than 12 percent this year. …

… into the massive profits they make on overdraft fees.

The article said:

“Bank of America, Wachovia and JPMorgan Chase & Co. said they will limit the number of fees they charge and make it easier for customers to refuse overdraft protection… JPMorgan Chase will provide overdraft protection for debit cards only for customers who opt in. And rather than debiting withdrawals and purchases in order of size, from largest to smallest, they will be debited in the order in which they …

… Circle office building on the Dallas North Tollway is scheduled for foreclosure action by lender Wachovia Bank. Wachovia lent developer Opus West LP – which is in bankruptcy – $40 million on the project.  And Amegy Bank has scheduled an Oct. 6 foreclosure for a 55-unit Highland Park apartment complex at 4201 Lomo Alto Drive. Built in 2000, the luxury rental complex is owned by an Austin investor, Highland Park Residences LP, that borrowed $17.3 million on the property when it was …

… facing foreclosure.

Wells Fargo – Modified 6 percent of eligible loans facing foreclosure.

Wachovia – Modified only 2 percent of eligible loans facing foreclosure.

American Home Mortgage Servicing – Modified exactly ZERO eligible loans facing foreclosure.

PNC Financial Services Group – Modified exactly ZERO eligible loans facing foreclosure.

Best Performers:

Saxon Mortgage Servicers – Modified 1 out of every 4 eligible loans facing foreclosure on a three month trial …

… of the economy and their own financial position,” said Mark Vitner, senior economist at Wachovia. “Consumers may be thinking less bad is not good enough.”

As Americans watch their neighbors, friends and family members suffer job losses, foreclosure and eventually file bankruptcy, many are taking a more cautious approach with their money. There is a pervasive fear that job losses could soon move out of the realm of “others” to the very personal realm of facing a job …