- Real estate economists warn that commercial foreclosures will follow the residential trend, and as the subprime mortgage crisis continues, thousands of homeowners have chosen to modify their loans in order to find debt relief and avoid foreclosure. Fortunately, the same benefits offered through the loan modification of residential property are now available for commercial property owners as well.
- What Is A Commercial Loan Modification?
- Commercial Loan Modification is a process through which the property owner of commercial real estate (retail stores, shopping centers, office buildings, etc.) can permanently change the mortgage terms of the original agreement made between the owner and mortgage holder.
- Similar to a home loan modification, most lenders are often willing to negotiate a loan modification and may agree to a number of feasible solutions: reducing interest rates, extending the loan terms, allowing interest-only payments for a fixed period, deferring past due balances, and in some cases even lowering your commercial loan balance.
- Do You Qualify For A Loan Modification Plan?
- Commercial Loan Audits, a division of Benjamin Legal Services, will review your preliminary information and supporting documents to determine if your commercial loan has the potential to receive a successful loan modification. If the attorneys at Benjamin Legal Services determine that we can build a strong and compelling case, and we can deliver the necessary supporting documentation, Benjamin Legal Services will engage the lender to begin the negotiation process and will work diligently towards obtaining a loan modification offer from your lender. Our goal is to help you obtain a loan modification that will allow you to keep your building, apartment complex, or business operations afloat.
- How Do You Negotiate a Successful Loan Modification?
- There are two keys to a successful commercial loan modification. The first is to be proactive - if there is a problem on the horizon, you may risk losing your business unless you seek help now. The second is to engage the services of an experienced attorney or commercial loan modification professional. Attention to detail is vital in the commercial loan modification process and our legal team is ready to provide the services and expertise you need. This may be the best opportunity that you will ever encounter that can help you negotiate a betterment of your mortgage terms.
- Reasons To Hire A Commercial Loan Workout Specialist
- The professional loss mitigation specialists at eModify, Inc. have existing relationships with most lenders and know how to effectively negotiate a beneficial modification.
- READ MORE ABOUT HOW COMMERCIAL LOAN AUDITS CAN HELP ››
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- Contact eModify
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eModify
California Processing Center.
1820 Bonanza Street, Suite 201
Walnut Creek, CA 94596
Phone: 925-855-1501
Fax: 855-855-1583
www.eModify.net
