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Car dealerships lose suit against GMAC
Two Eastern Shore car dealerships that were driven out of business when General Motors Acceptance Corp. called in their loans in 2009 lost a second time last week, when a judge found the financing company had not breached the contract nor any implied obligation of good faith and fair dealing.
Walker & Dunlop finances $77.2M Califiornia deal
Walker & Dunlop Inc., of Bethesda, a commercial real estate finance company, announced it provided $77.2 million in financing for the acquisition of a California apartment complex by Kennedy Wilson, a real estate investment and services firm based in Beverly Hills, California. Walker & Dunlop rate-locked the loan 45 hours after receiving a signed application, […]
Report: Economic concerns drive college choices
WASHINGTON — College costs are driving decisions about which schools to attend, what to study and even where to live, according to a report from loan giant Sallie Mae. Parents no longer foot the largest portion of the bill, according to the lender’s annual survey. That role goes to grants and scholarships, with student loans […]
Date set for Harbor Point TIF hearing
An Aug. 7 date has been set for a Baltimore City Council committee to resume a public hearing on a request for $107 million in tax-funded incentives for the proposed luxury Harbor Point development.
Deal on student loans stumbles on costs
WASHINGTON — An emerging deal to lower interest rates on student loans hit a major obstacle Thursday after lawmakers were told it carried a $22 billion price tag over the next decade. The proposal was designed to offer Democrats the promise that interest rates would not reach 10 percent and to give Republicans a link […]
Banks fall short in helping struggling homeowners
WASHINGTON — Homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation’s top mortgage servicers, according to a report released Wednesday. Such delays can plunge borrowers deeper in debt. Joseph A. Smith Jr., the independent monitor of last year’s national mortgage settlement, said […]
Betamore attracts more members, launches new classes
Organizers say they are moving ever closer to realizing their ultimate vision for the center.
Panel approves Baltimore casino license
ANNAPOLIS — A state commission on Tuesday approved a slot machine license for Caesars Entertainment to build a casino in Baltimore, and the panel signed off on a scaled-back proposal for a casino in Western Maryland where developers could not find financing for their initial plan. The unanimous vote for the Baltimore casino grants the […]
Need financing? Don’t forget to check out government programs
Deciding to start or expand a small business is a risky proposition that comes with a lot of costs. And unless you recently hit the lottery, you are probably not going to be able to cover all of the costs ...
RG Steel, creditors eye agreement on sale process
WILMINGTON, Del. — RG Steel LLC says it is close to resolving differences with creditors over plans to sell the bankrupt steelmaker’s assets. RG Steel, the nation’s fourth-largest flat-rolled steel manufacturer, sought bankruptcy protection in Delaware last month, citing liquidity issues attributed to low steel prices and high raw material costs. A bankruptcy financing agreement [&he[...]
Foreclosures squeeze U.S. home prices, sales
WASHINGTON — Rising foreclosures are weighing on the U.S. housing market, reducing prices and keeping new-home sales weak. Foreclosed homes are usually sold at steep discounts, thereby lowering average prices. And by expanding the supply of low-priced previously occupied homes, foreclosures tend to limit demand for new homes. Some economists expect foreclosures to keep prices […]
New-home sales up in November but 2011 figures dismal
WASHINGTON — Americans bought slightly more new homes in November, but 2011 will likely end up as the worst year for sales in history. The Commerce Department says new-home sales rose 1.6 percent last month to a seasonally adjusted annual rate of 315,000. That’s less than half the 700,000 new homes that economists say should […]
