It's just that this whole housing and land fiasco over the last couple of years, left alot of banks with uncompleted houses and building lots from builders and contractors that the banks are having to complete and or sell.
Talking to some LO's with some local banks in the area. Their stories talk about local builder's walking cash advance online nj and literally throwing the keys to 3 or 4 and even 6 uncompleted houses on there desk and leaving (future building lots as well).
It did get a little more involved than that (but this is the short version) Not to mention alot of the same banks having to still sell exsisting forclosed homes. This is some of what there talking about when they say banks are still nervous about real estate loans. Military Special Home loans.
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