As I stated in my post Mortgage Industry: Accredited Home Lenders V. Lone Star Fund  PART I, I believe hat Lone Star Fund V just plain got cold feet which is why they backed out of the original merger/buyout.  I don't think it was necessarily about Accredited Home Lenders, I think it was with the Mortgage Industry in general.  Well, Accredited fired back with a lawsuit and it scared Lone Star Fund V back into the merger.  HMM...Well whatever it takes huh? 

Well it worked!  In the article below Lone Star Fund V has now re-extended its offer.  "You'll hear from my attorney!" Accredited said.

Lone Star Extends Accredited Home Offer
BusinessWeek (08/15/07)
Loan Star Fund V LP has extended its tender offer to acquire Accredited Home Lenders Holding Co. for a second time, even though the private equity firm does not believe the struggling subprime mortgage lender has met all the conditions of its offer. Accredited Home requested an extension, and the conditions of the deal required Lone Star to prolong the offer period for no more than 10 business days--which makes Aug. 28 the new deadline. Lone Star received about 10.9 million shares of Accredited Home, or about 43 percent of the mortgage lender's outstanding shares, through Aug. 13. The Calabasas, Calif., lender sued Lone Star on Tuesday in an attempt to force the firm to follow through with the $400 million deal, and says it may have to file for bankruptcy protection if it is not acquired.

I am extremely interested to see how this plays out!

Your mortgage partner for life,