Cumberland, RI, US
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Arnold Mills
Arnold Mills, RI 02864 Providence County
A Bank of America executive said that if borrowers prove they can no longer pay their mortgages and have few or no assets, the bank will waive its right to a deficiency judgment during the closing of the short sale deal. But if the borrower can afford to pay or has assets, the bank will try to negotiate a set fee for the borrower to pay at closing. If the borrower refuses to turn over financial information, the bank will retain its right to go after the money.
http://www.mortgagedaily.com/MctBoaDeficiency060510.asp?spcode=rss
Second-quarter performance on commercial real estate loans was up 139 basis points from the first quarter, the Mortgage Bankers Association reported. Among all investor types, performance on CMBS loans was worst. Compared to a year earlier, CMBS delinquency was up more than 400 BPS.
http://www.mortgagedaily.com/ComTab.asp?spcode=rss
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