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Loan Modification

: Mortgage Lender Implode-o-Meter

Manhattan Empty Condos May Become Rentals as Leases Beat Sales

By Implode-Explode Heavy Industries

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"Builders can?t afford to cut prices because they borrowed too much at the height of the market, according to Miller. He and his partners are betting that lenders will seek to sell their condo units at a loss rather than foreclose on the building and assume all the developer?s liabilities until the units are sold.

Full post as published by Mortgage Lender Implode-o-Meter on June 04, 2010 (boomark / email).

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