Aug 21 (Reuters) - Comstock Homebuilding Companies Inc:
* Eliminates $17.8 million of debt through friendly foreclosure agreement with
Wachovia bank
* Says agreed to cooperate with Wachovia regarding foreclosure on certain real
estate assets
* Says Wachovia agreed to release the company from their obligations
* Wachovia agreed to release the company from guarantees regarding $17.8
million debt
* Does not anticipate any material future write-offs as a result of the
agreement or the foreclosures
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* Eliminates $17.8 million of debt through friendly foreclosure agreement with
Wachovia bank
* Says agreed to cooperate with Wachovia regarding foreclosure on certain real
estate assets
* Says Wachovia agreed to release the company from their obligations
* Wachovia agreed to release the company from guarantees regarding $17.8
million debt
* Does not anticipate any material future write-offs as a result of the
agreement or the foreclosures
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.