The troubled Bangor Mall, which has been headed for foreclosure after defaulting on a loan in October 2017, faces more problems. A company representing its lenders filed a motion in Penobscot County Superior Court in Bangor on July 5 seeking to appoint a receiver to protect the interests of the lenders.
If you know your friend is broke because he or she has mentioned the situation to you, then it provides a window to start a dialogue and assess what your friend means by “broke.” Some people may use this term when they are squeezed for cash in a paycheck-to-paycheck cycle, while others are legitimately in…
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
One critical issue affecting complex restructuring cases are efforts by the estate or creditors to recharacterize debt into equity. This can happen in a variety of factual contexts, including where an existing equity stakeholder puts capital into a distressed company as “rescue capital” in the hopes of implementing an out-of-court turnaround. Foreclosure News
The mortgage delinquency rate dipped to a 12-year low, but overvalued housing markets and eventual reversal in the unemployment rate present risk for future delinquencies, according to CoreLogic. About 4% of mortgages reached or maintained a state of delinquency or foreclosure in August, a drop off from 4.6% year-over-year and a month-over-month edge down from…
When a mortgage company faces having its mortgage interest swept away in a quiet title action following an HOA lien foreclosure, the mortgage company comes up with all sorts of arguments as to why its mortgage should remain intact. This time, the arguments did not carry the day. Foreclosure News
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