Resolving unpaid loans backed by depreciating assets at a time of diminished sales is testing builder-lender relationships.
Getting a lender to renegotiate a loan requires all hands on deck. And when that doesn’t work, help may come from private money lenders.
Renegotiating debt can be a lifesaver for builders swamped by the market.
Projects with both beauty and brains win the highest accolades in the 2008 Gold Nugget Awards competition.