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Loan Modification

: Mortgage Lender Implode-o-Meter

Bailout oversight panel warns of wave of commercial real estate foreclosures

By Implode-Explode Heavy Industries

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"In its monthly report, to be released Thursday, the Congressional Oversight Panel for the Troubled Asset Relief Program predicted those failures could threaten a still-struggling financial system. The panel is not alone in sounding the alarm about commercial real estate troubles. But in its job as overseer of the bailout fund, the panel urged the Treasury Department and banking regulators to develop a plan to address the problem before it hits full-force starting next year."

Full post as published by Mortgage Lender Implode-o-Meter on February 25, 2010 (boomark / email).

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