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Do You Qualify For A Loan Modification Plan? www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com Although loan modification for smaller commercial mortgages is a great deal easier than working through a large multi lender plan or a property held by a Commercial Mortgage Backed Securities Trust it may hold more challenges than a residential negotiation. Regardless of the type of property the lender will always focus on one major factor. Does the cost of foreclosure outweigh the cost of a loan modification? www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com The lender's decision will be based on their best interests. Your ability to successfully negotiate a plan will depend on many of the same factors as a standard residential loan modification. Some of these factors are: * Amount Of Equity In The Property * Past Payment Experience * Costs Of Foreclosure * Borrower's Financial Position * Borrower's Willingness To Retain Property * Local Market Conditions Loan Modification + Business Plan www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com In addition to these factors many small commercial loan modification plans will depend on the financial condition of the borrower's business. The lender must know that from a business perspective that there is a likelihood of producing enough profit to service the the new payment successfully. This is the main point of departure from a residential program. Regardless of whether the property in question is a single family rental unit, multi-family apartment building, or retail property, your lender is going to want to see a business plan. The plan should include realistic numbers and a convincing explanation as to why the plan will work. www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com Be prepared to present a realistic proposal and back it with solid numbers. Consider seeking the services of an accountant, attorney, or experienced loan modification consultant. A negative result could mean the loss of a property and a business. One shot is all you may get. Modifying a Large Commercial Loan can be as simple as a small loan. It can also be a time consuming task that is better left to accountants, attorneys, and loan modification pros. Some of the determining factors are listed below: www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com www.NO4CLOSURE.com * Type of Borrower (Individual, Corporate, Trust, etc) * Type of Lender (Bank, CMBS Trust, Insurer, etc.) * Terms of Lending and Servicing Agreements * Terms of The Proposed Commercial Loan Modification Plan In the case of loan modification, the size of a commercial loan is not necessarily the determining factor as to the level of difficulty. If it is a single lender/ single borrower relationship the process may be as simple as a good business plan and a lender that is willing to listen. On the other hand if the mortgage relationship is a conduit loan from a real estate trust to a corporate borrower the situation will involve a number of professional advisors, a great deal of time, and most likely state and federal tax code. www.no4closure.com Plan B: Given the difficulties of modifying a large commercial loan it may very well be easier to refinance. As in the case of any commercial loan modification a valid business plan and a solution to the situation that brought the loan into a distressed state, and a willingness to make it work by both the borrower and the lender will make the difference. They key to finding a successful remedy for a potential commercial real estate loan problem is to be proactive. If there is a problem on the horizon, seek a solution now before it becomes a glaring issue that cannot be ignored. Researching commercial loan alternatives early on can save a bundle later. www.no4closure.com Large Commercial Loan Modification Large Commercial Loan Refinance Commercial Loan Modification Services Residential Loan Modification Loan Modification Services for Commercial Properties Goto NO4CLOSURE.COM Now! 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