Bankruptcy Judge Allows Philly Newspapers’ Plan

Chief U.S. Bankruptcy Judge Stephen Raslavich, recently approved a plan for Philadelphia’s largest newspapers to see life after bankruptcy protection, contrary to mounting objections from various employee pension officials. The judge later said the plan is “in the best interest of creditors… (and is overall) a noteworthy achievement” in the shadows of what has been […]

ABI Predicts More Than 1.6 Million Bankruptcy Filings in ‘10

According to the American Bankruptcy Institute, the number of consumer bankruptcy filings jumped 14% in 2010’s first half, to its highest level since the bankruptcy code overhaul, nearly five years ago. The total number of filings climbed from 675,351 to 770,117 according to ABI which cited collected data from the National Bankruptcy Research Center. The […]

A Simple Commercial Loan Modification Guide

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 […]

Lies Your Commercial Loan Lender Will Tell You

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 […]

What to do When You Default on a Commercial Building Loan

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 […]

The Importance of Maintaining Good Rent Rolls for Commercial Building Loans

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 […]

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