August 16, 2017

Commercial Foreclosure: When Can Lenders Foreclose?

I was quoted in The Charlotte Observer in 2009 regarding a $515 million luxury condo, office and retail project in Cornelius, NC that wass being foreclosed upon. Many people are surprised to learn that the developers hadn't missed payments.  Then why the foreclosure?  Because the project wasn't hitting agreed-upon milestones -- the developers hadn't leased enough of the space. This is what is … [Read more...]