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 […]

When Does a Commercial Loan Modification Become Necessary

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.  […]

Hire an Attorney Before Submitting Your Commercial Loan Application

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 […]

Beware of the Loan Modification Seminar

The loan modification seminar has become a powerful and popular marketing tool for many lenders and loan modification professionals in the years since the housing market collapsed.  Self proclaimed industry have hosted loan modification seminars for borrowers facing foreclosure all across the country.  While the intentions of these experts may be good and well, borrowers […]

Home Loan Modification Information

The home loan modification information provided here is meant to educate borrowers facing foreclosure on the general rules surrounding the foreclosure and loan modification application process.  The processes of each loan modification and foreclosure will be affected by the individual lender responsible for servicing the loan in question and the laws that affect mortgage contracts […]

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