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Loan Modification

: Mortgage Lender Implode-o-Meter

Tamweel Wins Right to Repossess Five Dubai Homes as Owners Leave Country

By Implode-Explode Heavy Industries

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"Real estate prices in Dubai fell by about 50 percent because of the financial crisis, prompting some homeowners to stop paying off their mortgage and leave the country. Barclays Plc won Dubai?s first foreclosure cases in court under a 2008 mortgage law, setting a precedent for lenders holding about $16 billion of Dubai home loans to take action when borrowers default."

Full post as published by Mortgage Lender Implode-o-Meter on June 30, 2010 (boomark / email).

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