The Commercial Loan Modification option provides for either a permanent or temporary change in one or more of the terms of a debt instrument holder’s obligation or encumbrance… OK that’s enough legal speak!

In layman’s terms…  the viable business owner or property investor who can demonstrate current or expected economic hardship, but at the same time is able to show they can meet the proposed financing/modification will qualify for a loan workout. The debt holder (lender) must be confident that they are not just delaying a foreclosure, rather that the modification will benefit the borrower and the borrower will be able to maintain the new debt service program established through the modification/workout.

Examples of modification strategies include:

  • Extending the term of the note
  • Reducing Principal and Interest payments
  • Interest only payments for a fixed period of time
  • Suspending payments for a period of time
  • Stopping Foreclosures on distressed properties
  • Facilitating Short Sales
  • Extending Balloon payments
  • Combinations of any or all of the above

Property Types that are Excluded:   NONE

The best decision is to call and discuss your options. An earnest proactive approach is the best approach! Inactivity is the worst decision. A detailed well planned approach will enable the lender to approve/disapprove your proposed plan. There are experts who can help you.

Call or email (925) 719-3569 or Pete@CommercialMasterMinds.com and I will connect you with the appropriate workout specialist to discuss your NO COST consultation.