Destiny USA in Syracuse is facing a potential foreclosure after failing to obtain a one-year extension on more than $430 million in mortgage loans. (Rick Moriarty | rmoriarty@syracuse.com)Rick Moriarty | rmoriarty@syracuse.com
Syracuse, N.Y. -- Destiny USA could face foreclosure after the giant Syracuse shopping mall failed to obtain a one-year extension on more than $430 million in overdue mortgage loans.
Kroll Bond Rating Agency reported Tuesday that Destiny could not make a required $38.9 million payment this summer to lower the balance of the loans to qualify for another one-year extension.
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