San Jose apartment owner lands final chance to dodge loan foreclosure
By George Avalos
Published on April 1, 2026.
The owner of a San Jose apartment complex, The Neo on First, is in default on a $21 million loan provided by lender CTBC Bank in 2017. The site's owner, Xuhan Yu, filed for bankruptcy in January 2026 in a last-ditch bid to avoid a foreclosure. Despite this, CTBC is willing to delay a foreclosure proceeding. The lender has proposed reduced payments for several months to give the owner more time to find a buyer.
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