McWhinney kicking off apartment complex project
Work began on the 252-unit The Greens at Van de Water on Mountain Lion Drive in Loveland last week. Preleasing for the studio, one-, two- and three-bedroom apartments is expected to begin in the fall with move-in slated for the winter.
Vacancy rates in Loveland were at 5.5 percent at the end of the third quarter of 2010 while average rents were among the highest among the lowest in the state's metro regions, according to the state's Multifamily Vacancy and Rent Survey conducted for the Colorado Division of Housing.
Investors eager for metro Denver housing projects
An apartment building boom is on the horizon as increasing demand for a limited supply of apartments pushes rents higher and gives developers and investors an incentive to start building multifamily projects.
Tough economy refills empty nests
It's been almost a year since Charlie Evans graduated from Colorado State University with a degree in engineering, eager to launch a career in the aerospace industry. "I started applying right away," he said. But 200 job applications later, he's landed only two "solid" interviews.
LPS: Overall mortgage delinquencies declined slightly in February
•Delinquency rates resumed their decline after an increase in January and foreclosure inventories remain stable, slightly below historic highs.
• Delinquencies continue to improve as new problem loan rates decline and cure rates increase.
• Foreclosure start declines and foreclosure suspensions are reducing the upward pressure on inventories caused by foreclosure sale moratoria.
• An enormous backlog of foreclosures still exists with overhang at every level
Servicers Asked to Consider a $21,000 "Cash for Keys" Option
According to an article by The Financial Times, the five biggest mortgage servicers in the United States were encouraged to consider a “cash for keys” option for 90-day plus delinquent borrowers that would pay them as much as $21,000 to move out.
Traditionally a cash for keys option offers around $1,000 for a borrower to vacate the property within a defined time frame. The borrower is forgiven of the mortgage debt in exchange for the deed to the property, and the money can help provide for moving expenses.