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Longtime real estate brokers said it was the first time that so many prominent downtown office towers had been posted for foreclosure. According to the foreclosure posting documents, the developers had defaulted on an $86.6 million loan held by Swiss Bank Corp. It was appraised on the Dallas County tax rolls at $66.4 million.
In August 1986 lenders post The Davis Building in foreclosure for funds equaling $18.5 million. In 1991 the building was used in part of the set for the movie Touch and Die featuring Martin Sheen. Hamilton Properties then purchased the building in 1997 with plans for renovation into apartment lofts.
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Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise ...
Private property may be sold in a public auction for a number of reasons. It may be seized through a governmental process to satisfy a judgment rendered by a court or agency, or to liquidate a mortgage foreclosure, tax lien, or tax sale. Usually, prices obtained at a public auction to satisfy a judgment are distressed – that is, they are much ...
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