Third-Party Commercial Loan Workout Firms Can Provide Valuable Assistance

Commercial properties, such as apartment complexes, office buildings, industrial buildings, shopping centers or store fronts are eligible for a commercial loan workout. Commercial loan workout firms can provide valuable assistance if property owners don't want to "go-it-alone".

Because so many commercial property owners are not able to meet their mortgage obligations, commercial lenders are now willing to modify their existing mortage loans to prevent avoid foreclosure. The key to preventing a default is to be proactive by contacting your lender or seek the assistance of a  third-party, professional commercial loan workout firm

Commercial mortgage loans are much more complex than residential mortgage loans. Hiring a professional commercial loan workout firm can help you navigate through the negotiation process with your lender.

A large part of the commercial loan workout process consists of analyzing and researching your current financial standing. From the bank's perspective, they want to see if the commercial property owner can handle any loan modifications or workout plans with the cash flow to back it up.

Make sure the third-party commercial loan workout firm have attorneys on staff with many years of experience specializing in commercial real estate transactions.

Sometimes a commercial loan modification may not fly and a short sale is necessary. A short sale allows the owner to sale a property for less than the actual mortgage loan balance. This is an alternative to foreclosure. The owner must prove to the lender that a financial hardship exists.

A problem can occur if the difference between the amount owed versus the discounted short sale amount is a taxable gain. An experienced commercial loan workout firm can help you avoid this potential tax time bomb.

For more information, please go to: http://www.MyCommercialLoanWorkout.com