Oakland Commercial Attorney Discusses Real Estate Financing Challenges
As a Bay Area business owner, your business may own commercial real estate and you are aware of the great rewards – and the risks – involved. Hard work and ethical dealings, while necessary, are no guarantee by themselves of the success of your business. This includes the ability to stay current on your commercial real estate mortgage. Commercial real estate lenders are fully aware that forces outside of your control, such as a contracting economy or sudden change of your target market’s taste for your product or service, can adversely impact your ability to keep up with your mortgage payments.
Options for Dealing with A Commercial Real Estate Loan Default
Both the borrower and the lender should be aware of their options when a commercial real estate mortgage goes into default. An experienced commercial real estate attorney familiar with California real estate finance and foreclosure laws can analyze the borrower’s or lender’s situation and present options. While each situation is unique and must be analyzed on a case-by-case basis, options generally include Loan Modification, Forbearance and Workout, Short Sales, Judicial Foreclosure, Non-Judicial Foreclosure and/or a Deed in Lieu of Foreclosure.
Regardless of which option might work best in your situation, a skilled real estate attorney experienced in real estate finance and foreclosure laws can assist you with each phase of this process.
Real Estate Attorney Serving San Francisco Bay Area Businesses
The attorneys of Poniatowski Leding Parikh Law Corporation can help you with a wide range of commercial real estate needs, providing you with real estate finance, loan workout, debt restructuring and foreclosure analysis and advice. Call us today at (510) 881-8700 to learn more about your business and commercial real estate options.
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