SUNNY ISLES BEACH, Fla. -- An affiliate of Dezer Properties, LLC, who in March, 2010 assumed an existing loan from a development partnership and began finalizing the sales of all remaining units at Trump Towers, today announced that it had paid off a $265 million mortgage on Trump Tower II and III The three-tower, luxury oceanfront condominium…Continue
Added by Tarek Kirschen, Realtor on July 28, 2011 at 11:25am — No Comments
Miami is looking abroad for developers to revive its commercial real-estate market, counting on revenue from new projects to relieve a fiscal hangover left by the collapse of residential prices.
Asian companies are behind the two biggest commercial ventures this year. Hong Kong-based Swire Pacific Ltd. (19) got initial approval June 23 for Brickell CitiCentre, $700 million of retail, hotel, residential and office space. Genting Malaysia Berhad agreed in May to pay $236 million for the…Continue
Added by Tarek Kirschen, Realtor on July 13, 2011 at 5:04pm — No Comments
Under the policy changes, mortgage companies collecting payments on Federal Housing Administration (FHA)-backed loans will be required to offer 12 months of forbearance for qualified unemployed borrowers, the White House said in a release.
Out-of-work borrowers with these loans now can receive a minimum of four months without mortgage payments.
Companies participating in the administration’s Home Affordable Modification Program will also be encouraged to offer up to 12…
OVERLAND PARK, Kan. – July 6, 2011 – They are based far from Wall Street – Overland Park, Kan., Irving, Tex., Horsham, Pa. – and despite their expertise in commercial real estate, they drew little attention during the industry’s boom years.
They are special service firms, experts in managing troubled commercial real estate loans. And like pawnbrokers, shoe repair shops and bankruptcy lawyers, they saw their fortunes rise during the recession. Thousands of loans for office parks,…
Added by Tarek Kirschen, Realtor on July 7, 2011 at 11:10am — No Comments
Fixed mortgage rates hold near yearly lows
Average rate on a 30-year loan rose slightly to 4.51%; average 15-year FRM stayed at 3.69%, says Freddie Mac. Read more.
Funding cut means more foreclosure delays
Will be less money and…Continue
Added by Tarek Kirschen, Realtor on July 1, 2011 at 8:56pm — No Comments