A steady decline in bank foreclosures on properties since the end of the Great Recession thanks to an improving commercial real estate climate, which results in less need for its bank- and court-appointed property disposition services. As of October the San Diego region had $178.4 million in commercial property loans that were at least 90days delinquent and were down from October 2013. In the current market climate experts said property owners generally are having fewer problems making loans payments.
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Thanks to an improving commercial real estate climate, San Diego-based Douglas Wilson Cos. has witnessed a steady decline in bank foreclosures on properties since the end of the Great Recession, meaning less need for its bank- and court-appointed property disposition services, though there are still pockets of those cases being handled by the company’s four offices nationwide. According to research firm Trepp LLC, which primarily tracks loans that are bundled into commercial mortgage-backed securities, the San Diego region as of October had $178.4 million in commercial property loans that were at least 90 days delinquent, representing 2.74 percent of all commercial loans in the region.Citation and link:
Hirsh, Lou. “Loan Distress On the Distress – Glut of Loans Coming Due Should Be OK.” SDBJ News., 14 Nov. 2014 Web. 17 Nov. 2014.