Beware: Marrying Lender And Developer Marketing Efforts
September 4, 2012, 5:28 PM EDT
Law360, New York (September 4, 2012, 5:28 PM EDT) -- In the years between 2003 and 2007, buyers were beating down the doors to buy lots in vacation developments in the mountains and at the beach. Developers could not produce lots fast enough to keep up with demand, and lenders were eager to get in the game, frequently teaming up with developers to offer short-term, interest-only loans, because everyone thought values were going to continue to climb forever.
In the aftermath of the market collapse in 2008, lenders and developers alike have been swept up in...