Banks Starting to Shed Toxic Loans

2009-11-17

Lenders are moving to rid their balance sheets of so-called loans that have led to billions in write downs as property values have fallen and defaults have soared. A number of banks, including Marshall & Isley, Synovus and Bank of America, have sold off portfolios of these underperforming assets in recent months.  But, operating banks trying to offload distrissed assets are now competing the the FDIC for buyers as it auctions off failed institutions assets at deep discounts. ...read more Abal Auction Real Estate News/Press Releases