Lenders and commercial property owners are forced to face the tough issue of delinquent loans with foreclosure postings up 21% locally in over the first ten months of 2010 compared to 2009. These number don’t give a ground-view picture of the lending market though. Fact is that commercial foreclosure postings are up in the aggregate. [...]
The Crown Plaza, a 410-room hotel on Pecan Street could be headed into receivership after defaulting on almost $60 million in loans. According to a petition filed by attorneys for the US Bank National Association as a trustee for a group of investors on October 13 with state District Court, two loans totaling $59 million [...]
According to the latest numbers, lenders are moving to foreclosure on around 20% fewer properties in Bexar Country the upcoming month than the same month last year. This is good news but no one really knows what to make of it. At this moment it’s unclear what the lender’s move will be on November 2, [...]
According to recent studies revealed by the Texas-based Foreclosure Listing Service Bexar County registered a double digit decline for the month of November. The foreclosure posting drop is double digit compared to the last month, the FLS say. They reported only 1,247 foreclosure notices filed in the Bexar County Courthouse for the November auction, which [...]
Bank of America owns many of the financially distressed mortgage loans in the area. Of the 14,421 foreclosure postings in Bexar County so far this year, 2,256 were filed by Bank of America or its subsidiary BAC Home Loans Servicing which makes BofA to have 17% of the foreclosure postings. However its share of the [...]
According to recent studies the San Antonio realty market continued its growth. Contributing factors are the city’s low unemployment rate, a history of sustained job growth and the activities of successful alliance of politicians, government agencies, and private entities. Recent stats reveal that there are 12,458 homes for sale compared to 11,304 one year ago. [...]
Distressed homeowners can find themselves some extra time to bring their loans current as Bank of America stops foreclosure sales in 50 states. This means silver lining to homeowners said Amanda LeCureux, managing partner of the Foreclosure Listing Service. However, George Roddy, president of Foreclosure Listing Service does not expect bank of America to delay [...]
October the fifth as the first Tuesday of the month is popular for the foreclosure auctions scheduled for that day. Although Texas Attorney General, Greg Abbott asked 30 lenders to put foreclosures on hold, the foreclosures scheduled for the first Tuesday of October went on as usual in Texas. JP Morgan Chase and Bank of [...]
Bank of America has temporarily halted all foreclosures countrywide, including Texas, to address concerns that the company is improperly handling some home repossessions. The biggest concern is related to the latest robo-signing scandal: the lender’s employees may be signing off on large amounts of foreclosure paperwork without conducting a proper review to insure the accuracy [...]
Although construction numbers are going down, there is a strong demand for apartments and this makes a strong second half of 2010 at least for the apartment market, the latest analysis by Marcus & Millichap Real Estate Services says. The study reveals that more that 80% of the 2,680 apartment units slated to be added [...]
