Originally Posted by Leanwolf
Originally Posted by Stammster
BSA mortgaged Philmont in 2019 to JP Morgan Chase, as collateral on debt they owed.

I did not know that.

Is there any updated information regarding that mortgage of Philmont?? I hope the BSA has either paid it off or are keeping the mortgage payments current. If they were to default, I have no doubt that JP Morgan Chase would take it over and develop it. Probably create 40 acre "ranchettes" for Chinese communist industrialists and Saudi oil billionaires.

Any info???

Thanks.

Bill.

Last I read, several years back, there was little if any chance, despite the mortgage, that the Boy Scouts would lose Philmont. I assume that hasn't changed but have seen nothing recently. That's 140,000 acres with hundreds of structures and administrative and ranching facilities, homes, etc. with a value six or eight years ago of at least $500,000,000. Ranches in the area that adjoin Philmont are the UU Bar and the Vermejo, both of which are larger.