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 has to go into foreclosure, while large corporations … [Read more...]
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 in Manhattan, turning … [Read more...]
