As real estate professionals, your goal is a healthy and vibrant real estate marketplace. Lots of selling and buying of homes is a good thing, as is a healthy credit report and sufficient cash on hand by your buyers and large amounts of home equity with your sellers.
But if the last few years has taught us anything, that is not always the case. Heck, in some markets, that rarely is the case. <
— After falling behind on loan payments, CityPlace Partners has negotiated a two-year extension of its $150 million mortgage on the downtown shopping center.
According to a document filed with the Palm Beach County clerk’s office, the maturity of the loan has been moved back to December 2018. The original loan, issued in 2006, was scheduled to end in 2016.
CityPlace defaulted on its loan this year, and in September loan servicer CSMC 2007-C1 South Rosemary filed a foreclosure proceeding on the property.
The loan modification document filed this week doesn’t indicate whether the 6.27 percent interest rate on the original loan has changed. C
Well, it is been awhile since I last posted, but I wanted to wish everyone a HAPPY NEW YEAR!
For those who know me, know that 2011 was a difficult one for my family.
We lost my father a week before Christmas, after a long battle with cancer. He died exactly a year from the date that my brother’s wife had surgery for a major brain tumor.
Though we’ve had challenges, I feel very lucky to have such a wonderful, supportive, and loving family.
I am hoping 2012 will bring more happiness, love, and joy into our lives, and just a few less challenges, please!
So, my plan now is to be back on schedule for regular updates.
Are there any posts you’d like to see from me? Updat
InVivo Therapeutics Holdings Corp. (OTCBB: NVIV), a life sciences company focused on potential treatments for spinal cord injuries, has entered into a six-year lease for a new 21,000 square-foot headquarters at One Kendall Square in Cambridge. The company currently occupies offices at the Cambridge Innovation Center at 1 Broadway in Cambridge, and also a small facility in Medford devoted to manufacturing, with a total of 4,000 sq. ft. The company expects to move into the new facility – which will include offices, lab space and a “clean room” – in early 2012. Terms of the deal were not disclosed. The new facility will support upcoming human trials on potential treatments for spinal cord injuries, which are currently awaiting the go-ahead from the U.S. Food an
Five major mortgage lenders could be facing concessions totaling $19 billion as bank representatives and government officials put finishing touches on a settlement for wrongful mortgage foreclosures, sources have told Officials have been working with banks for months to determine how they should be held responsible for the mortgage robo-signing scandal, but some states expressed concerns that the deal on the table doesn’t meet their expectations.
Housing and Urban Development Secretary Shaun Donovan, along with officials from several states, have been working to develop a deal that would hold major banks responsible for their roles in the robo-signing scandal that plagued the housing market with mortgage foreclosures in 2010 and 2011.
The banks involved in the settlement are the nation’s five largest mortgage servicers: Ally Financial Inc., Bank of America Corp., Citigroup Inc., J.P. Morgan