ESTATE


High end lender files Chapter 11 Bankruptcy
2009/04/02, 6:54 pm
Filed under: 1 | Tags: , , , ,

Thornburg Mortgage, which specialized in loaning jumbo mortgages to buyers of expensive homes, announced bankruptcy Wednesday.

The company said it will file for Chapter 11 protection and go out of business. It reported a net income loss of $2.75 billion in the nine months that ended last Sept. 30, according to its quarterly Securities and Exchange Commission filing.

The Santa Fe-based lender has been hard hit by both the mortgage and the credit crisis.

Source: The Associated Press (04/01/2009)

Advertisements

2 Comments so far
Leave a comment

Consumer Credit Counselors

Trackback by 3663

Consolidation Credit

I have always been pre […]…

Trackback by 3218




Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



%d bloggers like this: