Commercial REO Brokers Association - Dinner Meeting, Newport Beach, CA April 28,2009. Is the Commercial Real Estate Market About to Collapse?
The Commercial REO Brokers Association, (CREOBA) was formed to assist the Banks and Loan Servicers in selling their Foreclosed Commercial Properties. Ray McLaine, CREOBA President, pointed out that, “Last year 4.5 Billion Dollars in Commercial Real Estate was foreclosed by the banks. This year, that figure could reach $20 Billion with $200 Billion more to come in the next two years. - April 10, 2009
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