The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Jim McMannis who wrote (149306)	9/23/2008 10:12:00 AM
From: Les H	Read Replies (1) of 306849

Community banks lobby to add construction loans to bailout Community and regional banks, which often deal more with construction lending than larger financial institutions, are hoping to get part of the U.S. government's proposed $700 billion bailout. The U.S. Treasury could, under the plan, purchase troubled residential and commercial mortgages and mortgage-related securities, but the Wall Street Journal reported Tuesday that it's not yet clear whether the plan would include construction and land loans, particularly ones involving condominiums and housing projects. Oakland-based research firm Foresight Analytics LLC estimates that total construction-loan delinquencies reached 8.1 percent in the second quarter, up from 2.4 percent in the same period last year. The Journal quoted Damian Kassab, chairman of Michigan-based Warren Bank, as calling for politicians to lobby for help with the real-estate loans carried by community banks. bizjournals.com

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