Tips for Conducting a Commercial Loan Modification Workout

A large portion of commercial properties are not actually owned by the businesses that occupy them.  Most commercial properties are owned by investors who lease out space within their building to local businesses.  Some buildings are leased to a single business, while others are divided into sections and floors that house multiple businesses.  The owner […]

The Commercial Loan Modification Hardship Letter

A modification letter is a part of any loan modification process, residential or commercial.  The details of a commercial loan modification hardship letter will differ slightly form that of a residential letter, but the intent remains the same.  The purpose of the hardship letter is to express to a lender in one’s own words why […]

Subprime Mortgage Litigation

A subprime mortgage is one that is issued to borrowers with less than perfect credit that presents more risk to the lender.  The increased risk allows lenders to charge increased interest rates.  Many subprime mortgages were issued with an adjustable interest rate, meaning that after a pre-determined amount of time, the interest rate adjusted to […]

Mortgage Litigation Time Frame

Before a person can estimate the mortgage litigation time frame for their case, they must understand exactly what mortgage litigation is.  Mortgage litigation is the presentation of a dispute between a mortgage lender and a mortgage borrower before a court.  In most cases, the need for litigation will arise out of the lack of an […]

Loan Modification if Your Loan Is Not Owned by Fannie or Freddie

Fannie Mae and Freddie Mac are two of the largest financial institutions in the world.  They make millions of dollars by purchasing home loans from lenders, bundling several similar loans, and selling those bundles to major investors.  When the housing market fell, the two institutions were placed under federal control, which allowed the government to […]

Should I Accept My Loan Modification?

Requesting a loan modification is far from a quick or easy process.  Lenders have a reputation of dragging their feet when it comes to approving applications for modification.  Many lenders make their borrowers wait up to a year before they offer an answer to the original request to modify the loan.  In many cases, this […]

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