Share this article

print logo


Resolution Trust Corp., the agency overseeing the cleanup of the savings and loan mess, said it will try to sell $7 billion of its less appealing real estate assets by offering seller financing.

This is more than double the $3 billion in RTC assets that had previously been eligible for seller financing, where the agency sets up loans for buyers.

To qualify for financing, buyers would have to make a down payment of at least 15 percent, or show that they could put an equivalent amount into improving the property, he said.

There are no comments - be the first to comment