Colorado Homeowners get extra 90 days to avoid foreclosure
Banks clip commercial loan levels:
Banks are balking at extending loans to real estate developers because of federal regulatory pressure on financial institutions to contain the volume of their commercial lending. That’s forcing developers in search of refinancing to default on existing loans and, in turn, give the property to the banks.
Go to Article (Denver Post)
Commercial Real Estate Loans Going Bad At Frightening Rate:
Richard Parkus of Deutsche Bank has updated his Commercial Real Estate outlook with Q2 data. Check out how much the situation has deteriorated since the end of Q1. First, here’s where things stood at the end of Q1. The lines on the chart are the percentage of loans that are delinquent, measured by length of delinquency (the black line is the average). Deutsche Bank (bearish) was looking for 3.5% average delinquency by the end of the year.
Go to Article (businessinsider.com)
Homeowners get extra 90 days to avoid foreclosure:
HB 1276 offers homeowners a 90 day deferment on their foreclosure sale date, meaning that the public auction process will be delayed. This can provide up to an additional 90 days for the homeowner and their HUD approved housing counselor to work with the bank. When a homeowner has officially entered the foreclosure process
Go to Article (9news)
Median Price Down 4.5 percent from June 2008:
The median sale price increased on a month-to-month basis for the fifth month in a row, but was still 4.5 percent lower than a year ago, San Diego-based DataQuick reported today. The median price paid for all new and resale houses and condos combined in June was $210,000 the highest since it was $215,000 in August 2008. Last month’s median rose 6.1 percent from May but fell 4.5 percent from a year earlier. June’s median was 15.2 percent lower than the peak $247,569 median of June 2006.
Go to Article (Insiderealestatenews.com)
Stimulus, grants available but competitive:
By DAN BARKER Times Staff Writer There are many opportunities for grants for local governments, businesses and nonprofit agencies but there is a lot of competition for them in this economy.
Go to Article (Ft Morgan Times)
