Cab driver Pierre Haifa, left, was only netting $ 25,000 as a taxi driver when Melrose Credit Union loaned Haifa and partner most of the $ 900,000 it cost to buy two Philadelphia cab medallions. Now Melrose is calling many taxi medallion loans and Haifa's lawyer, Eli Gabay, left, who represents 30 cab companies, is trying to come up with a resolution.
Almost half of U.S. housing markets are now seeing foreclosure rates lower than they were before the Great Recession. Dallas home foreclosures are now 73 percent below where they were before the housing market crash in 2006 and 2007. Foreclosure News
New research from Arizona State University shows the Valley's foreclosure crisis led to more of the area's voters to opt against incumbents. Phoenix-area's foreclosure crisis shifted voters' preferences, ASU study says New research from Arizona State University shows the Valley's foreclosure crisis led to more of the area's voters to opt against incumbents. Foreclosure News
Ocwen is refinancing $ 300 million of bonds backed by reimbursement rights to funds it has advanced on residential mortgages it services. The two new series of notes will both extend the maturity of the debt issued by the securitization trust and reduce the interest rate. Foreclosure News
In their Financing column, Jeffrey B. Steiner and Jason R. Goldstein discuss how the prepayment of a loan in commercial real estate transactions may result in unanticipated economic consequences and write: Counsel representing lenders must take care when drafting provisions designed to protect their clients against the risks associated with prepayments by borrowers. For the…
The economy has come a long way from the dark days of 2008, when the collapse of Lehman Brothers and the bailout of big banks led to worldwide economic disaster. For much of the last decade, the economy has been growing and the stock market has been rising . Foreclosure News
The recovery from the housing market collapse a decade ago was slow, particularly in Florida, which was labeled king of the foreclosure market in the aftermath. Florida was leading the nation in foreclosures in the early 2010s and Jacksonville and several other major Florida cities consistently ranked in the top 10 in the nation for…
