NEW: Olmsted Village, Camelia Park Shoppes Face Foreclosure Sale Feb 21, 2010
Olmsted Village, Camelia Park Shoppes Face Foreclosure Sale ... They would have to give 10 days written notice and pay prorated rent to that date, but the notice of foreclosure sale does give renters that out. (The Pilot Newspaper)
Shopping Centers Face Foreclosure Sale Feb 20, 2010
They would have to give 10 days written notice and pay prorated rent to that date, but the notice of foreclosure sale does give renters that out. We saw some notices about a month ago, a manager at Jos. (The Pilot Newspaper)
Council candidate bankrupt, home in foreclosure Feb 20, 2010
Bailey filed for bankruptcy May 1, 2009, shortly before the scheduled May 13 foreclosure sale of his home, Murphy said. So a hold was put on the foreclosure, and the attorney handling the matter for the county has advised that Baileys continued date be extended month to month until the county is told otherwise, the treasurer said. (Montrose Daily Press, CO)
Foreclosure does not end rights of tenants Feb 19, 2010
If a tenant is considering leasing space in a building where foreclosure is a possibility, she said, "do so fully knowing the risks associated with the decision. The lease will likely be subordinate to the lender s security interest giving the lender the right to terminate the lease after the foreclosure sale. "It is like a wolf in sheep s clothing -- while the landlord s offer now may appear to be a great deal, the tenant could be left with nothing after the foreclosure sale," Everett said.... (Atlanta Journal-Constitution -- Business)
LeFrak, Ross unfazed by StuyTown suit Feb 17, 2010
Ross told The Post he supports a foreclosure sale, saying it will simplify the sale process ... But a source close to the lenders says Tishman never offered them a deed in lieu of foreclosure, which would have eliminated the need to request a foreclosure sale ... Ross told The Post he supports a foreclosure sale, saying it will simplify the sale process. (New York Post -- Business)
Bank of America Sues to Force Stuyvesant Town Foreclosure to Pay Creditors Feb 17, 2010
Bank of America Sues to Force Stuyvesant Town Foreclosure, Sale - Bloomberg. Updated: New York, Feb 17 04:33 London, Feb 17 09:33 Tokyo, Feb 17 18:33. (Bloomberg -- US)
Florida Court Decision Could Impact Builders and Bank Foreclosure Processes Feb 17, 2010
Under such procedure, the association knowingly waives its right of redemption and its right to a foreclosure sale, requests the court to grant a partial summary judgment against the association immediately, and further requests that the court direct the Clerk of Court to issue a certificate of title to the bank immediately, thereby making the bank the owner immediately and responsible for the association dues ... This new legal strategy saved Keys Gate a minimum of eight months or more of bad... (RealtyTimes)
Bill would let foreclosure bidders buy out lesser lienholders Feb 16, 2010
This is a good policy that will make foreclosure sales more competitive, and should help the overall housing market recover ... Colorado law currently states that the successful bidder in a home foreclosure sale gets a certificate of purchase (COP) entitling them to a confirmation deed, unless the property is redeemed by a junior lienholder. (Denver Business Journal, CO)
Investor buys foreclosed SoBe project Feb 16, 2010
Following s $4 million against , a LeaseFlorida affiliate purchased the defaulted mortgage and took title to the unfinished project at a Feb. 1 foreclosure sale. Alan I. Waserstein, who owns LeaseFlorida with his brothers, said he bought the note at a considerable discount to the judgment amount. (South Florida Business Journal, FL)
Foreclosure sale postponed for Ritz condos Feb 12, 2010
Foreclosure sale postponed again for Ritz-Carlton condos, athletic club - Denver Business Journal ... Foreclosure sale postponed again for Ritz-Carlton condos, athletic club ... The foreclosure sale of the Denver Ritz-Carlton hotel s unsold condos and Forza athletic club space has been postponed again, according to City and County of Denver foreclosure records. (Denver Business Journal, CO)
RealtyTrac: CO 12th in Dec. foreclosures Feb 11, 2010
But it said that the percentage of the state s homeowners who manage to avoid a final foreclosure sale after filing has dropped sharply. rmcgaw@bizjournals. (Denver Business Journal, CO)
Default alleged on River North site Feb 11, 2010
98 million in principal, interest and late fees, and seeks possession for a foreclosure sale. The suit also seeks $6. (Crain's Chicago Business)
Normal Days Inn bought by mortgage holder in foreclosure sale Feb 10, 2010
RM KIDS LLC purchased the 128-room hotel for $3 million during a foreclosure sale. The company was the sole bidder. (The Pantagraph newspaper)
Makena resort hotel to be auctioned off Feb 10, 2010
Golf courses, land part of foreclosure sale. Type Size. (Honolulu Advertiser)
RITZ-CARLTON to close 5-diamond Las Vegas hotel in May... Feb 10, 2010
Village Hospitality, a subsidiary of Deutsche Bank's German American Capital Corp, acquired the hotel in a nonjudicial foreclosure sale in February 2009. "The unprecedented economic downturn has had a significant impact on the hotel's operations," said Deutsche Bank spokesman Scott Helfman. (The Drudge Report)
Golf clubs try to get out of financial rough Feb 7, 2010
The Needham-based partnership acquired the course in a foreclosure sale last fall, according to published reports. Brian O Hare, a spokesman for the management company that ran Sterling National, said his firm, a subsidiary of Virginia-based Billy Casper Golf, was notified of the impending closing just a few days beforehand. (Boston Globe -- Sports)
One City Centre now in Hasties hands Feb 6, 2010
Stacy Hastie Called the foreclosure sale a ;big step forward. Related News. (St. Louis Business Journal, MO)
Foreclosure picture brightens Feb 5, 2010
Colorado foreclosure sales down 4% in 2009; fewer filings lead to sales - Denver Business Journal ... Colorado foreclosure sales down 4% in 2009; fewer filings lead to sales ... But it said that the percentage of the state's homeowners who manage to avoid a final foreclosure sale after filing has dropped sharply. (Denver Business Journal, CO)
Mandarin Oriental site foreclosed Feb 5, 2010
Attorney Robert Reardon with LLP confirmed the foreclosure sale to Atlanta Business Chronicle. However, the developers of the hotel said they will challenge the foreclosure. (Atlanta Business Chronicle, GA)
Mansion condos in flux Feb 4, 2010
David J. Burge, a local attorney for Smith Gambrell ll, represented iStar during the foreclosure sale and confirmed the transaction, but had no details about the company's plans for the property. Atlanta-based City Centre Properties, the building's original owner, tried to renegotiate two loans totaling $187 million earlier this year. (Atlanta Journal-Constitution -- Business)
Mo. OKs $5M loan for One City Centre rehab Feb 4, 2010
One City Centre was sold at a foreclosure sale SCR Investments, an investor group led by Hastie, was the sole bidder with $12. 7 million. (St. Louis Business Journal, MO)
Crosland sells land in Gulch Feb 3, 2010
Gulch property owned by , which had been the target of an oft-delayed foreclosure sale, has been sold. Crosland announced plans in 2007 to developed the 1. (Nashville Business Journal, TN)
'Walking away' not immoral, professor says Jan 31, 2010
For instance, the lender can't sue for the difference between the original loan value and the proceeds from a foreclosure sale of the home. The reason it's called a "non-deficiency" statute, Loeb said, is that it establishes default and subsequent foreclosure as a valid means of fulfilling a mortgage contract, as opposed to being a breach of contract in which one party's actions are considered "deficient.". (AZCentral -- Business)
Memphis foreclosures trend down in 2009 Jan 29, 2010
That was one filing either a default, notice of trustee sale or notice of foreclosure sale for every 36 housing units in the area. The ratio was down 11 percent from 2008, but up 36 percent from 2007. (Memphis Business Journal, TN)
Oahu 127th in foreclosures Jan 29, 2010
Not every filing results in a foreclosure sale, but RealtyTrac's count gives an idea of how many property owners were threatened with the loss of their property. Reach Andrew Gomes at. (Honolulu Advertiser)
Waterfront apartments face foreclosure Jan 29, 2010
The March 4 foreclosure sale for the vacant property would wipe out Biscayne Bank s interest. Miami attorney Mark E. Kass, who represents Biscayne Bank in the lawsuit, did not immediately return a call seeking comment. (South Florida Business Journal, FL)
Flaws plague foreclosure relief program Jan 27, 2010
" Guidelines ignoredMany of the urgent problems with the governments $75 billion Home Affordable Modification Program, or HAMP, are systemic. They can be traced to its basic guidelines for lenders and mortgage servicers the companies tasked with collecting payments from homeowners and forwarding them to the investors holding a homeowners mortgage.Launched last March as part of the Making Home Affordable initiative, HAMP was the Obama administrations flagship program to halt a wave... (MSNBC -- Business)
Miami judge grants reverse foreclosure Jan 26, 2010
for free extra services. Monday, January 25, 2010, 4:04pm EST. (South Florida Business Journal, FL)
New mortgage rules in Georgia? Jan 24, 2010
Current law requires lenders to give homeowners 30 days notice of a foreclosure sale. A bill introduced by Rep. (Atlanta Journal-Constitution -- Metro)
Carothers Crossing suitor sues GreenBank Jan 23, 2010
As purchase negotiations progressed, GreenBank delayed a foreclosure sale of the property several times. Originally scheduled for August 2009, the foreclosure sale was eventually delayed to Jan. 15 ... The suit alleges that GreenBank offered to extend a foreclosure sale until March 1, 2010, but only if it be released from all legal liability and receive a $50,000 payment. (Nashville Business Journal, TN)
No bidders for restaurant in downtown Gilbert Jan 22, 2010
None of the four registered bidders at the auction was willing to match the bank's $818,000 credit bid, which is placed on behalf of the lender at a foreclosure sale and must be less than or equal to the amount owed on the defaulting loan. In this case, the bank was owed $1. (AZCentral -- Business)
Toll Bros. buys Azura out of foreclosure Jan 22, 2010
At the Jan. 11 foreclosure sale, Toll FL X won title to Azura after submitting a $5. 1 million bid, which was based on the $43. (South Florida Business Journal, FL)
Lee County, private buyers keep close eye on Beach land Jan 20, 2010
Fifth Third Bank financed the $35 million project in 2005, but took it back in a foreclosure sale a week ago. The property consists of the site just across the Matanzas Pass Bridge where four hotels once existed on the Gulf, plus Seafarers Village mall on the other side of Estero Boulevard. (The News-Press -- Business)
Spalding County Homes Jan 19, 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)
Restaurant property fails to grab bidders Jan 16, 2010
None of the four registered bidders at the auction was willing to match the bank's $818,000 credit bid, which is placed on behalf of the lender at a foreclosure sale and must be less than or equal to the amount owed on the defaulting loan. Some downtown business owners hoped that the auction would allow a local investor to purchase the property. (AZCentral -- Business)
Northwest Austin's Horseshoe Bay land in limbo Jan 16, 2010
is seeking the property after LBJ Lakefront Inc. filed Chapter 11 bankruptcy the day before a foreclosure sale was to take place, according to court records. LBJ Lakefront is a purveyor of extraordinarily fine custom lakefront homes for 33 undeveloped lots that could accommodate at least 46 residential sites, according to its Web site. (Austin Business Journal, TX)
Downtown's Tutwiler Hotel narrowly avoids foreclosure Jan 16, 2010
The building was set to be sold on Jan. 8 on the courthouse steps in a foreclosure sale, according to public records. But negotiations between the Tutwiler s owner, investor Harold L. Rosbottom Jr., and halted that process. (Birmingham Business Journal, AL)
Ch. 11 for Carothers Crossing developer Jan 16, 2010
The filing, made this morning, put the brakes on a foreclosure sale that was to sell of much of the Carothers Crossing land to the highest bidder, a sale that had been scheduled for 10 a.m. today. According to public foreclosure notices, was going to sell 111 lots and more than 190 aces of unplotted land. (Nashville Business Journal, TN)
US Fidelis HQ sold to Mepco Jan 15, 2010
7 million in a foreclosure sale Thursday ... initiated the foreclosure sale held at the St. Charles County Courts Administration Building. (St. Louis Business Journal, MO)
Commercial defaults jump Jan 15, 2010
Loans are classified as delinquent when they are past due for 30 days or more, in foreclosure, returned to the lender following an unsuccessful foreclosure sale or beyond their maturity and nonperforming. The total balance of the delinquent loans was $352 million and included mortgages for 33 Twin Cities properties across various types of commercial real estate, including office, industrial, retail, lodging and multifamily housing. (Twin Cities Business Journal, MN)
Prime Beach spot seized Jan 14, 2010
Fifth Third Bank took back a down-at-the-heels parcel of land and buildings on Fort Myers Beach in a foreclosure sale Wednesday - and Lee County is looking into buying it as a beachfront park ... Ed Bonkowski, a commercial real estate broker who was representing potential buyers at the foreclosure sale, said that if the county doesn't buy the land, it's likely Fifth Third will bundle it with other assets its taken back and sell it as a package in the $100 million range. (The News-Press -- Business)
Crosland talks delay Gulch foreclosure Jan 11, 2010
A foreclosure sale of property in the Gulch owned by , scheduled for Jan. 11, will be postponed while Crosland and its bank continue negotiations, according to company officials. The sale was previously scheduled for both November and December. (Nashville Business Journal, TN)
A new Elevation at Blakeney Jan 11, 2010
Last month, Crosland put the holding company for the Blockbuster building into Chapter 11 bankruptcy protection to stave off a foreclosure sale. Shortly thereafter, Carolina First deferred the sale date for the other properties until January to allow Crosland additional time to redeem the property. (Charlotte Business Journal, NC)
New Laws Protect Home, Car Buyers Jan 10, 2010
It prohibits any seller who acquired a property as a result of a foreclosure sale, from requiring a buyer of the property as a condition of the sale, to use the seller's choice of title insurance or escrow company if the buyer is paying for these services. Senate Bill 36 will require all mortgage loan originators to pass an exam and register in a national database. (KCRA 3, CA)
Phoenix CityNorth developmentall had troubled launches Jan 10, 2010
A March 31 foreclosure sale likely will result in new owners who could nurse the project through the current economy adhering to Klutznick's vision ... What happened: Opened in 1991, sold for $6 million at a foreclosure sale in 1993 and closed. (AZCentral -- Business)
Page Mill Properties buildings face auction Jan 10, 2010
The trustee or foreclosure sale will be handled by First American Title Insurance Co. in Redwood City and begins on Feb. 1, Wilkinson said. "It is my understanding that residents received a letter that their (rents and status) were not to be affected during the process," she said. (Palo Alto Online, CA)
