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EFFICIENT, EFFECTIVE COMMERCIAL LOAN WORKOUTS |
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“The most prominent area of risk for rising credit losses at FDIC-insured institutions during the next several quarters is in CRE lending. Prudent loan workouts are often in the best interest of financial institutions and borrowers.”
-- FDIC Chairwoman Sheila Bair, October 14, 2009
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Are You Experiencing:
- Higher vacancy due to the poor economy?
- Lower rents/lease rates than anticipated?
- An impending balloon payment, and the bank is unwilling to extend maturity?
- Coming out of pocket every month because the NOI can no longer support the mortgage payment?
- Having difficulty refinancing your commercial loan and just out of options?
We Can Successfully Negotiate:
- Reduction in interest rate with current loan amount
- Reduction in loan amount with current interest rate
- Immediate interest-only payment schedule with a reduction in rate
- Extension of amortization schedule (for example, from 20 to 30 years)
- Extension of debt maturity date (Balloon)
- Forbearance and deferment of several months of payment
- ...And numerous combinations of the above.
We can help. Contact us at (916) 442-6404 for a free consultation.
The Law Offices of Ted A. Greene, Inc.
331 J Street, Suite 100
Sacramento, CA 95814
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Legal Experience + CRE Finance Experience = Results.
We at UpsidedownCommercial.com (The Law Offices of Ted A. Greene) have over 30 years of combined experience as attorneys and commercial real estate bankers. We believe that this unique platform of bankers and attorneys under one roof, almost unheard of in the industry, results in a value added service with a far greater success rate in loan workouts for our commercial property clients.
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"I had several tenants decide not to renew their leases. My vacancy was 30% and I was struggling with a negative cash flow situation. Ted Greene was able to negotiate a temporary lower interest rate, interest-only, that allowed me to continue making timely mortgage payments. Thanks Ted!"
--Michael W., Retail Strip Center Owner, Cameron Park, California.
"I had to make some major repairs that resulted in lost rent in five units for several months. I had fallen behind in mortgage payments and had been issued a Notice of Default. The Law Offices of Ted Greene negotiated a forbearance that allowed me to keep the property."
--Peter V., Multifamily Owner, Sacramento, California.
"The loan on my owner/user warehouse had a maturity coming up in two months. I couldn't find a single lender who was able to refinance the note.You guys were able to talk the lender into extending the maturity date, after they had already told me that they wouldn't. The team was professional and I was very satisfied with the end result."
--Andy R., Owner/User Warehouse, Santa Rosa, California. |
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Why Consider a Loan Workout |
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A perfect storm is developing in the commercial real estate lending world, where a combination of lower NOI due to macro-economic factors, and a frozen commercial lending market have left many, many commercial property owners in trouble and looking for a solution.
The solution could be a commercial loan workout. An expertly crafted Commercial Loan Workout Proposal, professionally presented and negotiated by an office of attorneys and commercial real estate bankers, can be a very effective means to get the lender's attention, and to petition them for a solution that works for both parties. The goal is to create a win-win situation for both the Borrower and the Lender.
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