Commercial Loans Workouts & ForeclosuresWith: John Cameron
In these difficult economic times, when asset values are falling, many loans that previously were performing and within the loan to asset values established by lenders are in trouble. Mr Cameron advises us to be preemptive in dealing with your lenders and try to work with them prior to being in default. There are occasions where a loan modification (extending the term, rate change or principal reduction) or forbearance agreements may provide the short or long term fix necessary to avoid foreclosure. We also cover the rules of foreclosure so that the listeners know how that process works if it is impossible to save the deal.