Tradition developer seeks loan relief

Cash flow problems have prompted the parent of Tradition developer Core Communities to attempt to renegotiate financing with its lender as the value of its land plunges. Fort Lauderdale-based Woodbridge Holdings Corp. said in its most recent quarterly report to the U.S. Securities and Exchange Commission that there are doubts Core can continue as a going concern. Core President Tom Babcock said the company has $15 million in cash on hand and expects the payments can be renegotiated.

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