Finance Articles

Vacation Finance Approves 50th Condo Hotel/Fractional Project

Bay Harbor, MI (PRWeb) December 28, 2006 -- Many lenders have been challenged by the unique characteristics of condo hotel and fractional real estate projects. Vacation properties often do not fit a standard mortgage underwriting mold because of scarce-locations or unique features. More than 60,000 condo hotel units coming to market in the next 24 months, and fractional real estate sales growing at double-digit rates; Vacation Finance, www.vacation-finance.com, has lead the mortgage lending industry in understanding and educating the marketplace on the risks and rewards of these new real estate products.

In 2006, principals of Vacation Finance have been quoted in articles on the subject of second home ownership by Forbes Magazine, The Wall Street Journal, Crain's Business, The Chicago Tribune, The Scotsman Guide and The New York Times. "We are proud to be on the leading edge of this new trend," said Bob Waun, CEO of Vacation Finance, "this industry has many moving parts, and marries both residential condo risks as well as the complexity of the hospitality and resort businesses."

Vacation Finance has published several white papers and has worked with numerous secondary market lenders to help inform and build acceptance of this product type.

"Boomers are buying second homes that will soon be retirement residences, they are spending more for these cottages than for their primary residences," said J.H. Heck, who specializes in ski-country lending, "the mountain states are booming, and the boom is only beginning."

With over 50 unique condo hotel and fractional projects approved for mortgage financing, Vacation Finance has selected the best projects for lending.

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