Monday, February 22, 2010

Mobile Home Park Loans with La Jolla Bank

Regulators closed La Jolla Bank FSB on Friday amid allegations a portfolio that included $786 million, or 21% of its assets, as "Non-performing" loans; and a severe lack of capital to backs its investments. Irronically the Mobile Home Park Loans from all indications had little to do with this.  Park loans tend to be more stable with strong underwritting guildlness. The new operator will benifit from the stability of the Mobile Home Park Loan Assets in our opinion.

Wednesday, December 23, 2009

Assuming a commercial real estate loan in 2010

We see a continuation of the strict guild lines for underwritten commercial loans bleed into the Commercial Loan assumption process. The plus is that the loans that were done from 2001 to 2006 were probably better than the loans you can get in 2009-2010 but,… the banks know that too and they would rather have that loan paid off so they can have new fresh loan funds to lend than to replace the existing borrower with another one of less quality. In short if you are looking to do a loan assumption in 2010 your chances are slim if your financials don’t equal the existing borrowers. That is in addition to the increased underwriting requirements.

Friday, November 27, 2009

Mobile home park loans

Lets face it Commercial Real Estate loans in 2010 will be harder for several reasons. One there are less banks out there lender. Second of the banks remaining many of them technically can not lend. Third is that of the banks that remain and can lend have raised the bar on lending for both the property and the borrower.  More now than ever can the right represenation help you not just find, but also negotiate the best loan. The lending market for mobile home parks is litterally changing ever 3 to 4 weeks and unless you spend everyday working with the industry it is next to impossible to know if you are really doing the right thing. visit to see the different types of loans. Remember all parks are different just like all types of apartments and office buildings. For more park inforamtion to review visit