Orange County Choppers Seeks Multi-Millions Dollar Loan Modifications

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(Source: ) – Orange County Choppers is facing mortgage foreclosure threats from its lender. The custom motorcycle builder has failed to repay two mortgages taken through the GE Commercial Finance Business Property Corp., to build its headquarters in the Town of Newburgh. The company is based in Orange Country, New York.

According to reports, the lender has initiated legal steps to foreclose the company headquarters. The news about Orange County Choppers’ foreclosure has turned viral on the Web. OCC has been a big present in the automobile sector of America through its custom motorcycles.

It is reported that OCC took two mortgages worth $11 million and $1.5 million. It missed to repay mortgage payments of around $96,400 and $14,000 due on July 1, 2010. Thus comes the foreclosure action.

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