Savannah foreclosure rate drops
Foreclosure rates in Savannah decreased in June over the same period last year, according to data from financial reporting firm CoreLogic.
The rate of Savannah area foreclosures among outstanding mortgage loans was 1.21 percent for June 2013, a decrease of 0.38 percentage points compared to June 2012 when the rate was 1.59 percent, according to CoreLogic.
Foreclosure activity in Savannah was lower than the national rate, which was 2.49 percent for June 2013. Also, the mortgage delinquency rate decreased. In June 2013, 5 percent of mortgage loans were 90 days or more delinquent compared to 5.92 percent for a year earlier.
Medient signs for $5 million line of credit
Medient Studios, Inc. announced Tuesday it has signed an agreement for a $5 million line of credit with TCA Global Credit Master Fund, LP to support motion picture development and print and advertising costs for films in the U.S.
“Enabling a dedicated fund for development and P&A is the next logical step as we continue to insource and realign the process of how films are produced, marketed and distributed,” said Manu Kumaran, Medient chairman and CEO.
TCA’s Donna Silverman said Medient’s vision “is truly extraordinary, and we are proud to provide finance to help the Company’s future growth.”
Medient is building a production facility on 1,550 acres in Effingham County. The official groundbreaking is Thursday.
Local security firm sold to Tenn. company
Nashville-based ADS Security has acquired the customer accounts of Security Services, Inc. in Savannah.
ADS’ announcement said the purchase furthers its growth in the Southeast. The acquisition will bring the customer base at the ADS-Savannah branch to more than 4,000 accounts.
Security Services owner Billy Rauers and his staff will join ADS and will be based out of ADS’ Savannah office at 27 Chatham Center South Drive.
Job fair set for military, spouses
BEAUFORT, S.C. — The U.S. Chamber of Commerce Foundation will host “Hiring Our Heroes–Beaufort,” a hiring fair for veterans and military spouses at 10 a.m. to 1 p.m. Sept. 4 at the South Carolina National Guard Armory, 1 Cavalry Lane.
More than 30 employers are expected to participate. Companies range from large employers to dozens of small companies from the region. Job seekers should register at hoh.greatjob.net. Walk-ins are allowed. Veterans must provide proof of service.