Jim Chaffin says N.C. foreclosure doesn’t affect Aspen project’s financing

ASPEN — The pending foreclosure of a real estate and golf community by a company controlled by Jim Chaffin and Jim Light, two of the developers behind the Lift One Lodge, a membership lodge at the base of Lift 1A at Aspen Mountain, has no effect on the financing of the local project, one of the partners said Thursday.Chaffin’s Balsam Mountain, a high-end golf community in North Carolina, faces foreclosure proceedings because the development company has defaulted on two loans with its lender, TriLyn LLC, of Greenwich, Conn., according to Chaffin. The lenders listed in court documents are two corporations under the umbrella of TriLyn LLC.“Ironically, we got caught in this tsunami,” Chaffin said of the recession and the resulting tightening of the credit market.
By Carolyn Sackariason, Oct. 23, 2009 Aspen Times

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