Antwerpen takes on Chrysler Financial over foreclosure sales Jul 31, 2010
Auto dealer Ltd. is vowing to fight the scheduled foreclosure sale of real estate it leases in Baltimore County, including the showroom for its dealership on Baltimore National Pike in Catonsville. Antwerpen plans to file papers in court next week to block the scheduled Aug. 11 auction sought by Services Americas LLC, the auto-financing arm of auto maker Chrysler, said Stanford Hess, Antwerpen s general counsel and executive vice president. (Baltimore Business Journal, MD)
The Editor's Desk Jul 30, 2010
The NPR report continues: "In other words, what if prospective buyers (in a foreclosure sale) don't like that additional property tax and demand a lower price? The mortgage lender eats the loss. "That won't happen, PACE supporters argue, because the house will have increased in value. " See or hear the full report online at . ; COMING UP: Saturday's editorial page will feature columnist Ed Tant's take on the rush to judgment against the USDA's Shirley Sherrod. On Sunday, columnist and local... (Athens Banner-Herald)
Vestavia Hills City Center case heads to court Jul 29, 2010
A foreclosure sale on the property was halted when AIG Baker put the property in Chapter 11 bankruptcy in April ... The reason for the bankruptcy, said Propst, was to halt the foreclosure sale and force a sale of the note at a greatly reduced price to AIG Baker s CEO Alex Baker, since he s not personally the guarantor of the debt ... AIG Baker will be supporting its motion to determine whether the rents generated from the property are cash collateral, while Propst will be pushing to dismiss the... (Birmingham Business Journal, AL)
Fannie Mae Addresses Appraisal Concerns Jul 27, 2010
As to the use of foreclosures or short sales as comparables, the revised Guidelines say this: "If the appraiser believes a foreclosure sale or a short sale is an appropriate comparable, then the appraiser must identify and consider any differences from the subject property, such as the condition of the property and whether any stigma has been associated with it. The appraiser cannot assume it is equal to the subject property." [my emphasis] "The appraiser must conduct the proper research in... (RealtyTimes)
Foreclosures Jul 26, 2010
"It makes it really difficult to stop the foreclosure sale while (the process) is going on," he said ... "It makes it really difficult to stop the foreclosure sale while (the process) is going on," he said. (Honolulu Star-Bulletin)
233-unit Clairmont apartments near airport fetch $6.5 million in foreclosure sale Jul 24, 2010
5 million in foreclosure sale - Nashville Business Journal ... 5 million in foreclosure sale ... An Atlanta-based real estate group has purchased The Clairmont, a 233-unit apartment located at 1019 Patricia Drive, in a foreclosure sale. (Nashville Business Journal, TN)
Bankruptcy protection sought for the EpiCentre complex Jul 23, 2010
In court filings, the bank said the step was necessary due to the likelihood that (Ghazi) will lose ownership of the property through a foreclosure sale. The appointment of a receiver would have required Ghazi to turn over all books, records, equipment, cash, bank accounts and other property pertaining to the EpiCentre. (Charlotte Business Journal, NC)
Business Bank cancels foreclosure sale on Matheny home Jul 20, 2010
Business Bank originally scheduled its foreclosure sale on the Matheny home for July 12 but then delayed the auction until today ... Gettinger declined to comment on why the foreclosure sale was canceled. (St. Louis Business Journal, MO)
Oasis foreclosure sale put off until Aug. Jul 19, 2010
1:10 A.M. The foreclosure sale date has been postponed for the Oasis high-rise condominium in downtown Fort Myers ... The motion by Bank of America to reschedule says only that Due to settlement discussions the parties need additional time before the foreclosure sale occurs ... Even if the foreclosure sale does go through, whoever buys the property will have to deal with four attorneys 00004000 representing groups of Oasis investors who want all of their deposits back. (The News-Press -- Business)
More pressure on feds to allow green loans Jul 17, 2010
The liens originate as property taxes and therefore must be paid off ahead of banks out of proceeds from a foreclosure sale. As a result, the programs are a risk to lenders and mortgage investors and contravene lending guidelines, the agency said. (San Francisco Chronicle -- Business)
Downtown's W hotel now owned by lender Jul 15, 2010
Operators of the 258-room W said guests will see no discernible differences while staying there, pointing out the foreclosure sale was simply the final stage in a process that started last year when the owners decided to no longer continue paying off its loan. Sunstone Hotel Investors Inc., a lodging real estate investment trust that purchased the W for $96 million four years ago, made the decision after concluding that the hotel was no longer worth the $65 million that it owed. (San Diego Union-Tribune)
Berrien offers sneak peek of tax-foreclosed property (7) Jul 13, 2010
Bidding will start at $40,737 in the tax foreclosure sale, to be held at the DANK hall on Pipestone Road in Sodus Township ... Witkowski said people who bid successfully on any of the 220 parcels of property to be auctioned at the July 20 tax foreclosure sale will have until 4 p.m. July 22 to pay. (St. Joseph Herald-Pallidium, MI)
Loan program fails island homeowners Jul 12, 2010
One Makakilo woman said she was told in January by her lender that the upcoming foreclosure sale of her home would be stopped as federal regulations require because she was eligible for a loan modification and her application was in the pipeline ... Maui resident Michelle Vogele said she had been receiving monthly notices from her lender that her home's foreclosure sale would not happen as long as she continued making her modified trial mortgage payments ... Recently enacted HAMP regulations... (Honolulu Star-Bulletin)
Firms sue Doracon to recoup more than $1M in unpaid bills Jul 9, 2010
Lipscomb is also a part owner in the Hollander 95 Business Park in East Baltimore that was headed for a foreclosure sale before the owners filed Chapter 7 bankruptcy. or (410) 454-0514. (Baltimore Business Journal, MD)
Foreclosed houses in Ohio biggest bargain in U.S. Jul 8, 2010
In Ohio, the average foreclosure sale totaled $79,762, RealtyTrac said. Data indicate the pace of foreclosure sales in Ohio is slowing, the volume of such sales dropping 54 percent from a year ago ... RealtyTrac CEO James Saccacio said foreclosure sales remain a popular option, particularly for first-time homebuyers. (Columbus Business First, OH)
Some advice for renters Jul 6, 2010
Often the first sign is anything wrong is a notice of trustees sale on their front door, which means a foreclosure sale can happen in as soon as 20 days. Still, renters do have rights. (San Diego Union-Tribune)
TAL Realty turns real estate market problems into profit Jul 4, 2010
That involves the borrower s right to redeem a property after a foreclosure sale. Trubow lost out on the opportunity to sell the house for a profit and recoup the cost of the refurbishment. (New Mexico Business Weekly, NM)
Coweta County Homes Jul 4, 2010
DESCRIPTION:This property is a Notice of Foreclosure Sale. A notice was filed at the recorder's office by the lender's attorney signifying a public auction. (Atlanta Journal-Constitution -- Home & Garden)
“Hmmmm. Makes you think the banks are just sitting on these homes. Guess who pays the taxes, electricity (when they are empty), etc? Freddie and Fannie (ie, the taxpayers). Sell 'em all now.” Jul 3, 2010
Foreclosure sales fall 50 percent in Q1 - Sacramento Business Journal ... Foreclosure sales fall 50 percent in Q1 ... Foreclosure sales in Sacramento County fell 50 percent in the first three months of the year, compared with the same quarter in 2009, online foreclosure tracker reported Thursday. (Sacramento Business Journal, CA)
Foreclosure sales fall 50 percent in Q1 Jul 2, 2010
Foreclosure sales in Sacramento County fell 50 percent in the first three months of the year, compared with the same quarter in 2009, online foreclosure tracker reported Thursday. Foreclosure sales, which occur when a bank takes possession of a home following non-payment of a mortgage, also decreased substantially on a year-over-year basis for Placer, Yolo and El Dorado counties ... The average foreclosure sale price in Sacramento County was $171,900 in the first quarter. (Sacramento Business Journal, CA)
RJ York hotel site sold at auction Jul 2, 2010
s $5 million bid at a foreclosure sale Thursday was the sole offer for the Clayton property where to. Premier was the primary lender on the project, and the foreclosure appears to kill three-year-old plans to redevelop the southwest corner of Central and Maryland avenues. (St. Louis Business Journal, MO)
Report: Foreclosure sales dive in Memphis Jul 1, 2010
RealtyTrac: Foreclosure sales dive in Memphis - Memphis Business Journal ... RealtyTrac: Foreclosure sales dive in Memphis ... According to RealtyTrac s data, there were 1,614 foreclosure sales in the eight-county area; 1,429 of those in Shelby County alone. (Memphis Business Journal, TN)
Foreclosure sales dominate Hillsborough County housing market Jul 1, 2010
Foreclosure sales accounted for 39 percent of all home sales in Florida during the first quarter, slightly more than the national average, with home prices discounted as much as 28 percent because of it. The figures are part of a first-ever foreclosure sale report issued by RealtyTrac ... Florida had 35,410 foreclosure sales, second only to California where half of its sales were foreclosure-related selling for $121,394 on average. (Tampa Bay Business Journal, FL)
$10.1M bid wins old Brentwood Holiday Inn Jun 22, 2010
According to property records, however, the new owners fell into default, and the hotel was offered in a foreclosure sale May 14. Clarksville-based. (Nashville Business Journal, TN)
Cow Creek GCD delays decision on water rules (5) Jun 20, 2010
The resort was acquired by SPE GO Holdings, Inc., an affiliate of Textron Financial Corporation, in a foreclosure sale on the Kendall County Courthouse steps on June 1. Kemper Sports, a national golf course and resort manager, is operating the facility for the new owner. (Boerne Star, TX)
Mortgage Lenders Can't Always Obtain Deficiency Judgments Jun 15, 2010
Generally, it is the difference between the foreclosure sale price (the successful bid amount) and the amount of debt owed. In order to obtain a deficiency judgment, a lender must apply to the court for the judgment within three months of a judicial foreclosure sale ... This foreclosure sale is the "auction at the courthouse steps." There is no court action. (RealtyTimes)
Hawaii commercial real estate sales drop Jun 12, 2010
The foreclosure sale of the former Hawaii Raceway Park in Kapolei to a group of investors called AC/CW Raceway Owner LLC for almost $14 million was another notable sale, but was also at a price of about $5 per square foot, which was significantly below the $35 to $40 per square foot that land was commanding at the peak of the market, the report said. Most Read Stories. (Pacific Business News, HI)
Wildwood North facing June 16 foreclosure sale Jun 12, 2010
A foreclosure sale is set for Wednesday, with special servicer CWCapital Asset Management LLC looking to recoup money from the $18. 7 million loan originally made by to the center s owners, an entity of A.J. & C. Garfunkel of Savannah, Ga. (Birmingham Business Journal, AL)
KellyMitchell buys RJ York building Jun 11, 2010
Mark LoCigno, Cassandra Sanford and Rebecca Boyer formed and purchased the Clayton property at a foreclosure sale June 3 for slightly more than $1 ... John Hall, an attorney with , ran the foreclosure sale on behalf of the mortgage holder. (St. Louis Business Journal, MO)
Housing numbers drop after tax credit ends Jun 11, 2010
1 percent over the same time last year, to $175,000, with gains in foreclosure sale values outweighing year-to-year price declines for traditional and short sales. But pending sales, posting gains only in short sales, dropped by 21. (Twin Cities Business Journal, MN)
Tapatio Springs under new management Jun 11, 2010
Published: Wednesday, June 2, 2010 2:52 PM CDT At a foreclosure sale Tuesday, Tapatio Springs Golf Resort was acquired by SPE GO Holdings, Inc., an affiliate of Textron Financial Corporation, the same company that held the auction after the resorts owners were more than six months in arrears on a 1998 loan. Tapatio Springs Golf Resort includes a 112-room resort and conference center and a 27-hole, Bill Johnson-designed semi private golf club. (Boerne Star, TX)
New owners plan revival of Tapatio Springs Resort (188) Jun 9, 2010
Published: Saturday, June 5, 2010 8:15 AM CDT Tapatio Springs Golf Resort was acquired by SPE GO Holdings, Inc., an affiliate of Textron Financial Corporation, in a foreclosure sale on the Kendall County Courthouse steps June 1 ... Textron had originally set the foreclosure sale March 2 but gave co-owners Michael Shallit and Jay Parker time to negotiate with a prospective buyer. (Boerne Star, TX)
Judge halts Hechts warehouse foreclosure Jun 8, 2010
For its part, Patriot is seeking at least $50 million in damages, plus punitive damages and a court order to block the looming foreclosure sale. Most Read Stories. (Washington Business Journal, DC)
LEED neighborhood foreclosure sale: $1.65M Jun 4, 2010
Cambridge Park, what was to be a $20 million neighborhood in southeast Davidson County filled with "green" homes has been sold at a foreclosure sale. a subsidiary of , bought the property in late 2007 for $2. (Nashville Business Journal, TN)
Blasting Bank's Lawyer, Judge Wipes Out Homeowner's $207,000 Mortgage May 27, 2010
HSBC's run-in with Bailey began in December 2009 when she granted the lender's motion for the foreclosure sale of Eslava's one-bedroom unit at El Dorado Tower in Aventura ... According to court records, HSBC and Florida Default did not post the bond and proceeded with an April 9 foreclosure sale that gave the lender title to the condo ... The agency recently helped another family obtain a loan modification in Miami-Dade County, but the lender did not cancel the foreclosure sale. (Law.com)
Hecker's Cross Lake properties sold to bank May 26, 2010
61 acres of lakefront property were sold Monday at the Crow Wing County Sheriff's Department mortgage foreclosure sale ... A photo from June of 2009 shows one of three Denny Hecker lake homes on southern Cross Lake that on Monday were sold at a Crow Wing County sheriff's mortgage foreclosure sale to TCF National Bank for $7,010,597. (Brainerd Daily Dispatch)
Carefree Resort plans extensive makeover May 22, 2010
Since acquiring the property at a foreclosure sale in September, Bridlie has made changes to the property's outdoor fountains, patio areas and flower-trimmed landscape. The resort has turned a profit for the first time in four years, said Leslie, a former Texan who resides in Cave Creek. (AZCentral -- Business)
Cool million for Irving condos May 8, 2010
During a foreclosure sale in the lobby of the Greene County Office Building on Friday morning, the sole bidder for the 13 Academy Street property was the bank. Jim McCardle, senior lending officer for the Rhinebeck Savings Bank, placed the $1 million bid for the four-level, 13-unit structure. (Catskill Daily Mail, NY)
Remembering a conservation victory (175) May 8, 2010
At a foreclosure sale in 1936, the farm was sold to the mortgage holder, the Equitable Life Assurance Society of New York. The company searched for a buyer, but couldnt find one. (Sioux Falls Tri-State Neighbor, SD)
Capital One buys Horizon for $17.4 million May 7, 2010
Jim Lenschau, a director and shareholder with , held the foreclosure sale, while Shea Wellford, an attorney at Martin, Tate, Morrow & Marston, made the bid for the bank. In 2005, The Bryan Co. announced the project as a luxury condominium development with 350 units to be constructed in three phases. (Memphis Business Journal, TN)
Foreclosure Sale of Owners' Interest in Pacifica Mesa Studios, LLC Cancelled May 7, 2010
ALBUQUERQUE, N.M., May 7 /PRNewswire/ -- The foreclosure sale of the owners' interest in Pacifica Mesa Studios, LLC has been cancelled. All of the parties are working together to resolve their differences. (Yahoo! Wire -- Entertainment News)
Emiliano Calemzuk Involved with Foreclosure in Miami Court May 5, 2010
A bankruptcy judge ruled that the plaintiff, U.S. Century Bank, may proceed with the foreclosure sale to be held sometime in the month of July. "I am shocked this has actually proceeded to this point and this much money and time has been spent in litigating this foreclosure claim," said attorney Alfonso Perez, of Miami-based Rasco Klock Reininger Perez Esquenazi Vigil and Nieto, for U.S. Century Bank. (Yahoo! Wire -- Entertainment News)
Huge Hampstead industrial park to be sold May 4, 2010
It was unclear what impact the upcoming foreclosure sale will have on the park s tenants. Representatives from BTR could not be immediately reached for comment. (Baltimore Business Journal, MD)
Memphis foreclosures fall in first quarter Apr 30, 2010
That was one filing either a default, notice of trustee sale or notice of foreclosure sale for every 148 housing units in the area. That comprised 0. (Memphis Business Journal, TN)
Tapatio Springs Resort may have found a buyer (click here) (1) Apr 29, 2010
Last month Shalit and co-owner Jack Parker staved off a foreclosure sale on a 15 million lien that is at least six months in arrears. The lien was scheduled to be auctioned to the highest bidder on the steps of the Kendall County Courthouse on March 2. (Boerne Star, TX)
Couple shot in reported burglary faced eviction Apr 28, 2010
The St. Paul Pioneer Press says the couple bought the house in 2007 and it was the subject of a sheriff's foreclosure sale in June. The couple was to be out of the house by yesterday. (Brainerd Daily Dispatch)
AIG Baker puts Vestavia shopping center in bankruptcy Apr 28, 2010
Vestavia LLC, the AIG Baker Shopping Center Properties entity that owns the 378,000-square-foot shopping center on U.S. 31, has filed for Chapter 11 bankruptcy protection, halting its foreclosure sale ... Nick Whitehead, assistant general counsel for AIG Baker, said the bankruptcy filing is intended to protect the company s equity interest in the property, as well as its tenants, after negotiations fell through with Propst before the foreclosure sale. (Birmingham Business Journal, AL)
How to Interview Debt Settlement At... Apr 25, 2010
Stopping a foreclosure sale is fairly simple. Yet most lawyers require cash payment, in advance, before accepting a new client or initiating legal proceedings. (Suite101.com)
“Doesn't AIG Baker still owe about $220 million dollars to JP Morgan/Chase for the long overdue construction loan for Alex Baker's floundering "Wharf" project in Orange Beach? Seems Alex Baker got too cozy with AIG and is paying for it now. AIG and Alex Baler: "Like Peas a...” Apr 25, 2010
Both properties are owned by affiliates of Birmingham s Shopping Center Properties and are scheduled to sell at a foreclosure sale in the coming weeks, filings show. Loans for both of the properties have been assigned by the banks to other companies. (Birmingham Business Journal, AL)
Stuy separation complex Apr 24, 2010
As the massive development on Manhattan's East Side moves toward a foreclosure sale, the two outfits leading that effort are asking a judge for the OK to sell each parcel separately, according to recently filed court documents. Though every effort is expected to be made to sell the 80-acre development as a package deal, sources familiar with the matter said CW Capital and Bank of America made the request so that they had available to them all possible sale scenarios -- and to shield them from... (New York Post -- Business)
Officials to host property summit Apr 23, 2010
The shuttering of the 160-acre Friar Tuck Inn resort this month, along with the pending foreclosure sale on the condominium project at the former Washington Irving school at Thompson and Academy streets in May, has prompted action among local officials. Catskill county Legislator Joseph Izzo is seeking to organize an open forum to discuss how the potential loss of property tax revenue from these properties and others could affect the town, and what the solutions are in dealing with them. (Catskill Daily Mail, NY)
Vestavia City Center, Patton Creek in foreclosure Apr 23, 2010
Both properties are owned by affiliates of Birmingham s Shopping Center Properties and are scheduled to sell at a foreclosure sale in the coming weeks, filings show ... But this week, Compass refuted that claim and Propst is moving forward with the foreclosure sale, planned for April 27 ... He also expressed hopes for the note to be paid off or terms renegotiated before the foreclosure sale, set for May 11. (Birmingham Business Journal, AL)
Foreclosure rates surge, biggest jump in 5 years Apr 22, 2010
More homes were taken over by banks and scheduled for a foreclosure sale than in any quarter going back to at least January 2005, when RealtyTrac began reporting the data, the firm said. advertisement. (MSNBC -- Business)
Downtown W hotel changes ownership Apr 21, 2010
We are very pleased with the successful restructuring, solidifying the ownership of the property and avoiding a foreclosure sale, said Martin G. Alston, Capri Partner and chief administrative officer, in the news release. Capri looks forward to working with Barry to realize the full value of this first-class downtown property. (Atlanta Journal-Constitution -- Business)
Sears at Northwest Plaza to close, cutting 100 jobs Apr 21, 2010
95 million at a foreclosure sale. In January, city officials negotiated an option to purchase the property for $13 million in a bid to find a developer. (St. Louis Business Journal, MO)
Housing starts jump in March Apr 17, 2010
More homes were taken over by banks and scheduled for a foreclosure sale than in any quarter going back to at least January 2005, when the foreclosure listings firm began reporting the data. Copyright 2010 The Associated Press. (USA Today -- Money)
Home builders optimistic about April, not beyond Apr 16, 2010
More homes were taken over by banks and scheduled for a foreclosure sale than in any quarter going back to at least January 2005, when the foreclosure listings firm began reporting the data. "We have to go down the road a little bit longer before we're going to see the sun come out," said , a real estate agent in Rockville, Md. (USA Today -- Money)
Tennessee foreclosures climb in March Apr 16, 2010
That was one filing either a default, notice of trustee sale or notice of foreclosure sale for every 576 housing units in the state. Tennessee ranked No. 21 in the U.S. for monthly filings. (Memphis Business Journal, TN)
Summary Box: Foreclosures Surge to New High Apr 15, 2010
REPOSSESSIONS SOAR: More homes were taken over by banks and scheduled for a foreclosure sale than in any quarter going back to at least January 2005. QUICKENING PACE: RealtyTrac says that surge is a sign banks are starting to wade through the backlog of troubled home loans faster. (ABC News -- Wire)
Foreclosures Hit Rich and Famous... Apr 10, 2010
At a foreclosure sale Wednesday, the property attracted no bids from investors and so was acquired by the foreclosing lender. Annett Wolf, a spokeswoman for Mr. Cage, said he had no comment. (The Drudge Report)
Foreclosure Sale Shifts Boot Ranch Ownership Apr 8, 2010
In a foreclosure sale held yesterday, Lehman Brothers Holdings, Inc. purchased the Boot Ranch Development on Ranch Road 965 north of Fredericksburg. We are delighted to have taken this important step toward the long-term success of Boot Ranch and to fully own this unique property, the co-head of LBHI s real estate group Philip Cyburt said. (Fredericksburg Standard Radio Post, TX)
New Short Sale Program Can Benefit ... Apr 6, 2010
HAFA specifies that every homeowner-debtor who may qualify for the program must be considered for it before the delinquent loan is referred to foreclosure or the lender allows a pending foreclosure sale to proceed. HAFA also allows $1,000 from the sales proceeds to lenders for administrative and processing costs, and $1,500 to the seller as relocation assistance. (Suite101.com)
Foreclosure Sales: Now There's An App Apr 4, 2010
Want to take advantage of a local foreclosure sale. There's a free app for that. (FOX61, CT)
GreenBank forecloses on big piece of Carothers Crossing Mar 31, 2010
GreenBank had originally planned a foreclosure sale in mid-January, though that was halted when and , two companies ran by developer Don Smithson ... A foreclosure sale was held Friday, during which GreenBank purchased 178 acres for $1,460,625. (Nashville Business Journal, TN)
Old Island raceway site has new owner Mar 30, 2010
But before a court confirmation hearing of the Amer iStar) foreclosure sale last week, AG/CW Raceway arranged to buy the property from MKA and pay off the mortgage held by Aan undisclosed sum. An Aeswoman confirmed that Aonger has an interest in the Hawaii Raceway parcel, though the company is believed to have profited from its loan purchase. (Honolulu Advertiser)
