TICs Avoid Foreclosure Wave

Last week, our reader The Real Estate Whisperer asked about the health of the TIC loan industry.

TICs apparently have an excellent track record when it comes to foreclosures, according to Henry Jeanes at Sterling Bank—one of the primary TIC lenders. Jeanes confirmed that apart from one TIC owner in Oakland who was heading for foreclosure (which was ultimately avoided), Jeanes isn’t aware of any lenders foreclosing on a TIC interest.

Good news, particularly with the mix of group and fractional loans. Jeanes attributes the loan success to the strict TIC loan requirements.

3 responses to “TICs Avoid Foreclosure Wave”

  1. bayareafran says:

    This is surprising, especially given how many group loans exist in San Francisco and the last year saw a lot of job losses. Good news, I guess.

  2. Karen Duke says:

    We are going thru a foreclosure with one of our TIC’S right now in Las Vegas and other co-owners are involved in trying to stem off foreclosure on other TIC’S they are invoived in–loss of tenants and failure in rent receipts.

  3. insidesfre says:

    Karen–Sorry to hear you are going through a foreclosure on your Vegas TIC. I didn’t realize TICs in Vegas were popular. Who’s buying them? In San Francisco, it’s almost all owner occupiers.

Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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