HUD Homes Articles | Vestin Realty Mortgage II Reports Second Quarter, First Half … - MarketWatch
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Vestin Realty Mortgage II Reports Second Quarter, First Half.
MarketWatch - 13 hours ago As of August 8, 2008, we had foreclosed upon two of the non-performing loans and classified them as real estate held for sale. As of June 30, 2008, … For the six months ended June 30, 2008, the Company reported a net loss of approximately $25.3 million or ($1.70) per share compared with net income of approximately $10.8 million, or $0.72 per share for the same period in 2007. The Company noted that the losses for both the quarter and the six months ended June 30, 2008 were in large part due to non-performing loans and the Company’s recording of a loan loss provision of approximately $22.3 million. In addition, the Company incurred write downs for real estate held for sale of approximately $11 million and $12.8 million for the quarter and six months ended June 30, 2008, respectively. BRT Realty Trust reports loss, sharp revenue drop Newsday |
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Tags: news articles, newsday, vestin realty mortgage
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