Commercial Loan Modification

While we work very hard to provide a lending solution for every loan request that we receive, it simply is not possible.  In situations where a loan isn’t feasible, the solution is frequently a commercial loan modification.

With out extensive capabilities, we can act incredibly quickly to prevent commercial foreclosures and to create a workout plan that can benefit all of the parties involved in the deal.  We provide our clients with all of the facts and information that they will need to help them make informed decisions and keep them out of foreclosure.

Our team has successfully completed over 100 commercial loan modifications within the last several weeks.  Also,  for those cases that qualify, we can provide short sale take-out financing as part of the exit strategy.

When negotiating loan modifications, it is vital to know what information the bank or lender is going to look at to make a decision. The main question here is – will the cost of a foreclosure be greater than the cost of a loan modification?

Lenders will base their decision to modify a loan on which course of action will cost them less money, period.

Other factors that will be important to a successful negotiation of a commercial loan modification include:

• - the amount of equity in the property
• - the costs of foreclosure (on average a commercial foreclosure costs $21,000)
• - the borrower’s financial position
• - the borrower’s willingness to keep their property
• - conditions in the local commercial market

Take a look at some of our recent loan modification success cases.

Here are some ways that we may be able to help with a loan modification:

• - reduce your interest rate
• - eliminate or reduce late fees
• - reduce interest penalties
• - extend or modify your term
• - reset balloon payments
• - short term forbearance
• - short term interest only payments

It is a difficult time for commercial property owners with even more difficulties predicted for the months to come.  While you can certainly try to negotiate a commercial loan modification on your own, why not take advantage of a team of experienced professionals and give yourself a much higher chance of success?

Should you choose to let our team work with you, you will be given direct access to your team of negotiators.  That team will include a full staff of seasoned commercial real estate attorneys who will help facilitate the modification process.  The lead negotiator on our team has over 20 years experience working as a Special Servicer for several commercial lending institutions.  Our goal is always to create a win-win situation for our clients and for their lenders.

By taking advantage of a loan modification, you can quickly get back on track and save your property from foreclosure.

***Please Note:  we also have a lease modification program available***