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Arbor Realty – Foreclosure Special

Author: Published on: Published in: Arbor Realty Trust (NYSE:ABR)

September 3, 2024 – Arbor is facing a wave of foreclosures as borrowers, unable to pay interest or deliver equity, are walking away and handing Arbor their keys.

Arbor has been predictably unsuccessful in flipping these properties.

  • Various parties who have been approached to privately bid on foreclosed properties advised that their offers fell far below Arbor’s outstanding loan balance against the properties.
  • Arbor typically re-posts county foreclosure auction dates, knowing public auction bids will fall short of outstanding loan balances.
  • Where foreclosure sales have gone through, the sale price was far below the loan balance and only half of the last appraised value. In one instance Arbor bought the property themselves illustrating the crux of the problem:

The only parties willing to pay Arbor’s asking price for foreclosed Arbor properties is Arbor themselves, and they do.

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