Quote:
Originally Posted by LuxLiving
I'm just assuming that some businesses might have gotten in on the crazy mortgages that were out there and might have 1)pulled cash out like many residential homeowners did, or 2) got into a new property with some schmancy-fancy-slight-of-hand financing also like what brought about the residential mortgage popping bubble.
Pardon my English, I've had too much coffee today as that last sentence will tell you!  |
Most commercial loans are done on shorterm loans and have to be refinanced. The ones that are starting to mature are not capable of this due to low property values.
To add to the problem, many owners and leasers are defaulting on their payments and rents.