OCC Foreclosure – Is It a Rumor or Fact?
OCC foreclosure has been big widespread news to all the fans of OCC (Orange County Choppers). It does so because OCC has been being the most famous motorcycles builder in the United States. Company which was built in the year of 1999 by Paul Teutul, Sr. is likely facing the era of bankruptcy. Yet, whether the OCC foreclosure is a rumor or real information, people are still confused about that. It does so because the company has been being so big for these years.
Whether it is wanted or not the issue of OCC foreclosure really distracts OCC fans. It does so because the company has been passing the years of achievements with the designs of motorbikes, such as the T-Rex, Black Widow and other designs had by the company. Moreover, the company also has designed standard designs so that their products could be sold outside of the United States, especially European countries and Australia. Also, OCC has spread their products by selling choppers apparels and other merchandise that are loved so much by choppers lovers. That is why the presence of OCC foreclosure news intrigues people and mostly their fans.
Yet, of course OCC foreclosure will not appear if there is no source. The foreclosure becomes a trending topic everywhere after OCC reality show “American Choppers” on January 24, 2011 gave the preview on OCC and financial problems they have. Even the financial reports are bold so that the audiences of the TV show were starting to question about the issue of foreclosure had by the company. Yet, if we look at the previous year’s news, it is reasonable why there is the rumor of OCC foreclosure. It does so because dated back on November 18, 2010 there was an article saying that the company missed on paying their mortgage of $96,400 and $14,000.
According to Times Herald-Record, although there was the issue of OCC foreclosure it said that OCC missed to pay the mortgage because they did it in purpose so that they could renegotiate their contract and loans to the lender. Paul Teutul, Sr. said that they missed to pay the mortgage not because they do not have money. So, the issue of OCC foreclosure is not true. Yet, he and his company did it because he wanted to give pressure to GE lender to lower the mortgage because now the building is worth less than in 2007.
The OCC foreclosure also predicts because of bad relationship between Teutul, Sr. and Junior. Yet, there is no exact comment from Teutul Senior to agree or reject the issue of OCC foreclosure. Just let’s see what will happen then.
