DO I QUALIFY FOR A COMMERCIAL LOAN MODIFICATION?
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There are many factors that determine whether a lender will modify a commercial loan. Whereas a residential loan modification uses a fairly simple formula based on the borrower’s income to determine eligibility, a commercial loan modification is based on a number of complex and interrelated factors.
The following are several of the most important factors: equity in the property, loan to value ratio, income generated by the property, credit worthiness of the borrower, payment history of the borrower. Another critical factor in determining whether or not a borrower qualifies for a commercial loan modification is whether the borrower will be able to make the payments on the modified loan. Unlike residential modifications, there is not a defined list of criteria and the above mentioned factors are some of the items that the attorneys at Hanasab & Zolekhian, LLP will analyze to determine eligibility.
At Hanasab & Zolekhian, LLP, our experienced real estate attorneys conduct a comprehensive analysis of your property and determine whether a commercial loan modification is a possible course of action with respect to your property.
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If a commercial loan modification is an option, our attorneys prepare an individualized proposal on your behalf to be presented to your lender. This proposal will strive to modify your loan in a manner that will once again make owning your property profitable while at the same time addressing your lenders basic concerns in order to maximize the potential for a successful outcome. |
Please call (888) 845-1888 or contact us for a FREE consultation to determine eligibility. The call will cost you nothing but the outcome may save your property!
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