We learned today from the most recent Bankruptcy Court case regarding Mortgages Limited Securities (MLS), that the private lender has slightly switched gears in terms of their new lender for Centerpoint. As of Friday, MLS announced a company called Stratera Portfolio Advisors will lend an immediate $4.9 million to help finish some highly time-sensitive issues with the Centerpoint towers. Today, MLS announced they have found a new hard-money lender, Mountain Funding, LLC. The primary reason for this move is because Mountain Funding is giving MLS better terms, including a lower interest rate.
With this new and potential better move for MLS, the Bankruptcy Judge postponed the hearing until Wednesday morning. Stay Tuned…
