In re: Mortgage Fund '08 LLC

Action No. 11-49803-RLE-11
Appointment:  Liquidating Trustee
Northern District of California - Judge Roger Efremsky
2012:  Susan L. Uecker, Liquidating Trustee, under the Chapter 11 Liquidating Plan for the MF '08 Liquidating Trust.  The case has 572 scheduled investor accounts with total claims in excess of $79 million.  The Trustee worked with a commercial broker for national exposure of the sale of a $67 million land loan portfolio with property located in California, Idaho, North Carolina, South Carolina and Texas.  The Trust forclosed on three (3) San Francisco, California properties which sold for over $4.4 million and one (1) property in South Carolina with a pending offer of $2.7 million.  The Trust accepted a deed in liu of foreclosure on a Nevada property which was subsequently marketed and sold.  The Trustee negotiated a forbearance agreement and collected on a note valued at $1,250,000 .  There is extensive litigation pending.