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foreclosures: Now They Foreclosed The Country Club - 12/26/08 02:54 PM
In our current economic situation, it's not just houses that are falling into foreclosure. I have written before about shopping centers and other commercial locations that are being foreclosed but this is a first for me.
The Gettysburg, Pennsylvania Country Club, located in a very historic area, is being sold at sheriff's sale on January 9, 2009. The club has been unable to attract enough new membership to pay off a $2.9 million loan for renovations completed two years ago and actually closed it's doors in May 2008.
The story from the Carlisle Sentinel:
"The 60-year-old Gettysburg Country Club is slated … (3 comments)
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foreclosures: Even The Shopping Mall May Face Foreclosure - 11/26/08 11:36 AM
Now even the local Mall is in default and facing foreclosure
Commerce Bank, which holds the mortgage on the Harrisburg Mall, announced yesterday that mall owner is in default and the bank is seeking possession of the property.
According to the mortgage holder, the mall owner has been in default since August 15. and nearly $50 million is due in principle and interest.
The bank notified all mall tenants to pay their rents directly to the bank.
This mall, located near the intersection of Interstate 83 and Paxton Street was built around 1971. When it opened, it was the first enclosed mall … (2 comments)
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foreclosures: Bank Owned Single Family in Lebanon - 02/19/08 09:21 AM
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foreclosures: The World's Most Hated Blogger Is Back in Business - 10/26/07 05:28 AM
A few month's ago I wrote a post about Casey Serinwho was described as the world's most hated blogger named on the amount of negative comments his blog was receiving. Well, Casey is back (sort of) with a new program called Foreclosure Help Book that h'es started to market in the blog I linked.
He has kept his promise to stop blogging. The blog is actually written by a co-writer, but at least I know I'll still be treated to some of Casey's stupidity and get rich quick schemes.
… (13 comments)
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foreclosures: A Kink in the Mortgage Foregiveness Act - 10/05/07 12:34 PM
The "Mortgage Foregiveness Act" is designed in such a way that people who sell their homes in a "short sale" situation will not be penalized by having the difference between the sale price and the mortgage balance become income for IRS tax purposes.
The program, however, has some "holes" in the act that the framers probably did not consider.
Michael Shedlock, in his blog Seeking Alpha, mentions that the IRS may limit or exclude relief if the property has been used, either in whole or in part, for business or has been rented.
The problem, as seen here, is that many borrowers, when facing … (7 comments)
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Fred Pickard Hershey, Pa
Hershey,
PA
More about me…
Fred Pickard Innovations Realty Inc
Address: 50A West Caracas Avenue, Hershey, PA, 17033
Office Phone: (717) 533-7410
Cell Phone: (717) 315-4989
Email Me
This is not just about real estate, but about the Harrisburg, Hershey and Lebanon areas with events, news and happenings.
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