A CUSO created to help a credit union manage foreclosed property has begun to play a role in a city’s economic redevelopment.
A board of directors has the option to merge, convert or liquidate the credit union. The option to liquidate was proposed by Bill Brooks as a good option that allows members to realize their ownership interest in the credit union, [Guest Opinion: “Merger or Convert? Consider a Third Option,” April...
Tenth-straight monthly drop due to process hangups, loan modifications, RealtyTrac says.
Contrary to conventional wisdom, as the nation moves through an extended housing downturn, a number of credit unions have found themselves faced with significant amounts of REO.
Problems with processing foreclosures slowed the activity to its most sluggish pace in April, further delaying the point when the market will have addressed the large stockpile of real estate for sale.