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bankruptcy Real Estate News Blog; July, 2007 Archive

Alliance Bancorp, a Mortgage Lender, Files for Liquidation

By Art C. Ryder at 07/18/07 02:15

“Dunt, dunt, dunt, another one bites the dust!” Mortgage lender Alliance Bancorp filed for bankruptcy due to heavy foreclosure volume and inability to make ends meet. I’m sure that those who orchestrated the loans were handsomely paid and are sorry that the piggy bank of easy credit is now closed. More important, is what happens next to people with mortgages with the company? Do they get to keep their original loan terms or can they refinance?

Original source: . Alliance Bancorp, a Mortgage Lender, Files for Liquidation

Tags: real estate • bankruptcy • subprime • foreclosure •
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