Commercial Foreclosure
Commercial Foreclosure Attorneys
If your business is not able to produce enough income to pay the mortgage or a commercial investment property isn’t making money as it has in the past, you are not alone. In these challenging economic times, many owners of commercial properties are having a hard time making timely payments. If you’re going through a rough time with your investment, you may be faced with the commercial property foreclosure process.
Commercial Foreclosure Process
The commercial property foreclosure process works very much like the residential foreclosure process, except the process can move more quickly, which requires that you move quickly as well. When you miss real estate or commercial mortgage payments, the lender will contact you about your late payment(s). If the lender concludes that the commercial loan is in jeopardy of failing, the lender will promptly involve their lawyers and set the legal process in motion. When faced with foreclosure, the most important thing to do is take immediate action. You should promptly contact your lender and talk with them about your situation, as ignoring your lender will only create more concern for the lender. Typically, the lender does not want to foreclose on your real estate property, as liquidating these types of properties is far more complex than selling a residential property. The commercial lender is often open to restructuring the loan via a workout plan.
It is important to contact your lender as soon as you see that you may begin missing payments and engage a SunCoast Law commercial foreclosure attorney to begin the negotiations for loan modification and manage any legal proceedings that may arise.
Foreclosure Action Defense
- Orlando Foreclosure Defense
- Bankruptcy Property Attorneys
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- Get Answers Now
Short Sale vs Foreclosure
- Short Sale and Foreclosure Options
- The Best Option for Homeowners in Financial Distress
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Stripping A Second Mortgage
- Stripping A Second Mortgage
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- Free Consultation with Experienced Debt Relief Attorneys
Residential Foreclosure
- Residential Foreclosure
- Reinstatement
- Forbearance
- Repayment Plan
If you need to find a solution, contact a member of our team. SunCoast Law can help! We offer free initial consultations to all of our clients and would be happy to meet with you one-on-one.
