I can’t afford to pay warehouse mortgage. Can I lease out?

[Steve Gerage]

I hope I can get the answers from many experts here

2 years ago I bought a warehouse

I made 2 loans

1 SBA 504. $5millions

2 Commercial loan from one bank $8millions

My business went down so bad. I could not afford to pay mortgage. I leased the entire building to one company for 5 years lease. I made some profits.

My question is

1. If the commercial bank knew that I leased the entire warehouse to one company which they have a very strong financial. Will the bank default my loan and force sell of the property.

2. I also could not afford to pay last year property tax but plan to be on payment plan start this June. But the banker called me and ask why I didn’t pay December property tax and ask me personal financial as well as company tax return. Both of them are showing decline 3 years in a roll and have not much cash. Will this bank default my loan and force sell.

I never delinquent on my payment. I pay ontime every month. 

I really want to keep this warehouse because I knew that just rent it out only I have already made profit.

Thanks for your input and time