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Blog by Benito Realty Group

CocoWalk in Default on $79M Loan

February 25th, 2010

"The CocoWalk retail center in Coconut Grove, FL, is reportedly at least three-months behind on payments to CWCapital.

CWCapital, who services the defaulted $79 million dollar loan, has already rejected two workout proposals. While moving forward toward foreclosure, the loan service company is weighing a third proposal to modify the loan for owner PMAT Real Estate Investments of Mandeville, ...

Fannie Mae Opens Mortgage Help Center in Miami

February 23rd, 2010

"Fannie Mae announced Monday the opening of a mortgage help center in Miami to help distressed borrowers in South Florida with loans owned by the GSE."

"The Miami facility is the first in a series of local centers that the mortgage financier plans to open across the country. Fannie Mae says the goal is to accelerate the response time for struggling homeowners and improve the company’s resolu ...

4,000,000 Foreclosures in 2010?

February 19th, 2010

"Explains Rick Sharga, senior vice president of RealtyTrac Inc., “Essentially, the 7 million ‘shadow inventory’ number consists of all the properties currently in foreclosure (about 1.2 million), all the loans that are delinquent (about 5.5 million), and some of the REOs (about 900,000 in our database).” However, he says, “it appears that the analyst is working on the assumption that 100% of ...