May
18

What Builders Should Do When the FDIC Takes Over Their Bank

By

– National Association of Home Builders

With 140 bank failures in 2009, and 2010 expected to see bank closings exceeding that total, home builders and developers face an increasing risk of their loans falling under the control of the Federal Deposit Insurance Corporation (FDIC). If you are faced with this situation, the dynamics of your relationship with your lender have changed primarily because the FDIC and possibly an acquiring bank are not seeking a long-term relationship. Navigating through this process will likely be challenging and time-consuming, but it may also provide you with a window of opportunity to restructure debt that may otherwise prevent you from continuing to develop your project.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

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    Categories : National News

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