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Real Estate Industry Maine

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May 25, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
Facing the harbor, on a seedy section of Commercial Street notable for empty storefronts, People's Heritage Bank has opened what gloomy local brokers deride as a real estate "soup kitchen." Like other New England banks, People's Heritage has become the reluctant owner of acres of land and buildings. The bank has resorted to garage-sale tactics to unload its inventory of foreclosed condominiums, houses, office buildings and other properties.
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NEWS
May 25, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
Facing the harbor, on a seedy section of Commercial Street notable for empty storefronts, People's Heritage Bank has opened what gloomy local brokers deride as a real estate "soup kitchen." Like other New England banks, People's Heritage has become the reluctant owner of acres of land and buildings. The bank has resorted to garage-sale tactics to unload its inventory of foreclosed condominiums, houses, office buildings and other properties.
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