Sentences with phrase «defaults on construction loans»
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.
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Bankers know that a partially complete property, has a very high probability of defaulting on the construction loan.
Not exact matches
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.
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.
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.