This commercial loan modification guide is only meant to serve as a general overview of the commercial loan modification process.  The interested borrower should consult an experienced foreclosure attorney for more information specific to their circumstances. The commercial loan modification is one of the few options that borrowers have to avoid foreclosure on their commercial read more »

Commercial loan lenders are in the business to make money.  Unlike residential mortgages, commercial loans do not currently qualify for any type of government assistance programs, which means that commercial loan lenders do not receive any incentives to modify commercial loans.  Even though modification has historically been shown to be more profitable than foreclosure, lenders read more »

Commercial building loans are loans issued to borrowers for the purchase of a property that will mainly be used to conduct business.  Many people invest in commercial property because established businesses have a much easier time of paying their rent than residential tenants of other property buildings.  Sometimes, when tenant businesses fail to pay their read more »

A rent roll is a commercial property owner’s rental record that indicates who is current with their rent and who is not.  Maintaining good rent rolls for commercial building loans is very important for the borrower because this information will be used by lenders to determine the borrower’s eligibility for loan assistance programs like loan read more »

The reason why many commercial loans have been foreclosed on and many dreams of business ownership have been ended is because business owners did not apply for financial assistance from their lender fast enough.  Many borrowers decided to wait as long as they could without filing for assistance through loan modification but waited too long.  read more »

Homeowners and commercial property owners have been told time and time again that an attorney is the best resource to help them avoid the foreclosure of their property.  Many people only learn about the benefits of hiring an attorney after facing a financial hardship, but few understand the important services that attorneys can offer before read more »