US Treasury moves to assist distressed property owners

By editor | Published: September 24, 2009

The new rule that went into effect this month was in response to the tremendous pressure that the real-estate industry has placed upon the Treasury to respond to this very issue. Presumably, this new rule will make it easier for borrowers to negotiate to extend their CMBS loans without having to wait until the loan has actually matured and is in default. This may establish some uniformity in the industry so that the borrower can effectively get the loan extended before the actual maturity (default) date. Unfortunately, it is far from clear how this will work. At this point, there are still more questions than answers.  Full story from Ann Hambly

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