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Its ok for Wall Street to Walk Away From a Mortgage so Why Not You?
When an investment corporation defaults, or walks away, from a property it is called a strategic default. When a home owner can no longer afford their mortgage they foreclose. Somehow there has been tremendous stigma placed on the homeowner that … Continue reading
Posted in Development, Mortgages and Finance, Property Value Tagged california public employees, california public employees retirement, california public employees retirement system, cooper village, employees retirement system, housing market, huffington post, investment corporation, large corporations, mckinley, new york times, peter cooper village and stuyvesant town, peter cooper village and stuyvesant town apartment complex, public employees retirement, public employees retirement system, residential property purchase, second wave, stigma, tishman speyer properties, Wall Street Journal 1 Comment
Corporate Foreclosures and Individual Foreclosures
In recent weeks major real estate developers have been walking away from properties because like many home owners, they are underwater on their mortgages. Tishman Speyer Properties gave up the 56-building, 11,232-unit Peter Cooper Village and Stuyvesant Town apartment complex … Continue reading
Posted in Development, Mortgages and Finance Tagged apartment, banks, cooper village, creditors, economy, federal government, financial institutions, financial liability, foreclosure, foreclosures, housing market, lenders, manhattan, many home owners, Mortgages, peter cooper village and stuyvesant town, peter cooper village and stuyvesant town apartment complex, real estate developers, realtytrac, unemployment rate Comments Off
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