Bank of America and US Bancorp filed a lawsuit Wednesday to stop the foreclosure auction of New York City’s largest multifamily development, Peter Cooper Village-Stuyvesant Town. The hedge fund that’s helping mall owner General Growth Properties emerge from the largest bankruptcy in the history of the United States, Pershing Square Capital Management, is now a key player in an attempt at resolving one of the largest-ever commercial mortgage defaults.
BofA, US Bancorp sue to stop foreclosure of massive NYC apartment complex
Most Popular Articles
Latest Articles
Did lower mortgage rates slow housing inventory growth?
After two weeks of significant increases, my model for inventory growth with higher mortgage rates came crashing down last week.
-
Labor market report is good news for mortgage rates
-
Virginia Realtors: Zillow’s touring agreement may not be legal
-
Low inventory creates challenging conditions in North Carolina’s housing market
-
Tri-state area housing shortage could cost the region economically
-
Remote reverse mortgage counseling now permanently permitted in Massachusetts