With the wave of
loan maturities coming due this year, it will take about 18 months to clear loans made in 2006 and 2007, industry sources say.
Not exact matches
Whether unsecured or secured, business
loans come with set
maturity dates by which you must repay the
loan.
Neiman Marcus does not face any significant debt
maturities until 2020, when a term
loan of nearly $ 3 billion
comes due, giving its private equity owners Ares Management LP (ARES.N) and Canada Pension Plan Investment Board (CPPIB) time to try to turn the business around.
Whether unsecured or secured, business
loans come with set
maturity dates by which you must repay the
loan.
Treasurys
come in three main types based on the time frame of the
loan: T - Bills — the shortest - term variety maturing in one year or less T - Notes — mid-range
loans with
maturities of -LSB-...]
What this did was prevent the heirs from having the option of refinancing the Reverse Mortgage with a new
loan, or
coming up with the required funds to pay off the Reverse Mortgage based on the value of the home at
maturity.
This one only requires us to pay the interest on the debt each month, and the rest is up to us until the
maturity date
comes around — a good 15 years away;)(We also have the option of converting any portion to a fixed - rate
loan w / a current rate of 4.85 % too, if we choose.)
Also watch for
coming maturity defaults, especially for
loans made between 2003 and 2006 for which borrowers may not have the equity to refinance.
As of the second quarter, only 4.1 percent of the $ 770 billion in outstanding CMBS debt needed to be refinanced, according to Reis, but the number will climb as
maturities on
loans made in 2006 and 2007 begin to
come up.
So it's been a pretty steady increase in demand; obviously, there are a lot of CMBS
maturities looming, as well as
loans coming due from other lender types.
The outlook for 2018 is also a little more uncertain, because the wall of
loan maturities should start to
come down and the market will be one more year farther into what has already been a very prolonged recovery cycle, adds Gerken.
Sourcing new
loans could be a bigger challenge in the
coming year as the wall of
maturities continues to shrink.
Reverse mortgage
loan maturity events
come about if:
She expects more transactions will start taking place in the third and fourth quarters of 2009, as a greater number of
loans come to
maturity and landlords face increasing pressure to sell.
Other investors believe loose underwriting and over-leveraged properties will soon lead to
maturity defaults, essentially defaults that occur when a landlord can't refinance a property because it isn't worth the
loan coming due or because a landlord can't
come up with a slug of equity that lenders want.
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.
Much was made of the almost $ 300 billion in 2005 - 2007 vintage CMBS
loans coming due, including their performance at
maturity and their effect on the overall market.