Sentences with phrase «construction loan defaults»

Not exact matches

Bankers know that a partially complete property, has a very high probability of defaulting on the construction loan.

Section 223 (e) helps to meet the need for adequate housing for moderate and low income families by insuring lenders against the risk of default on mortgage loans to finance the rehabilitation, purchase, or construction of housing in declining, older, but still viable urban areas where requirements for other mortgage insurance can't be met.

He also has extensive transactional experience, including preparation of construction contracts, construction loan agreements as well as documents in default and termination cases, workouts, financing of principals, asset sales and acquisitions.

In early April, the company received waivers through Dec. 31 with respect to defaults on construction loans at Pittsburgh Mills, Cincinnati Mills, St. Louis Mills and Discover Mills.

The project's lead lender sued to foreclose on the mall, saying Freed's real estate firm had defaulted on a $ 205 million construction loan.

The court noted the construction loan is out of balance by $ 42.6 million, meaning the amount of funds available under the loan is less than the amount budgeted to complete the project, putting Freed in default.

Bank of America, the project's lead lender, moved in October 2009 to put the retail and transit portion of Block 37 into receivership, saying Freed defaulted on a $ 205 million construction loan.

At this late date, I seriously doubt that the defaulting homeowners are making any advances to their builder for any construction that might not have been completed at the time the loan was settled.

Real estate money managers also are sniffing out potential maturity defaults among developers with construction loans as well as landlords who must refinance existing mortgages in the coming months.