Hi BiggerPockets,
I've seen a lot of great advice given on these boards and was wondering if anyone could help my sister out.
Long story short:
She and her husband co-own a medical plaza in Palm Springs, Ca and they have a loan due in May for $250,000. Her husband was partnered with another Doctor but things went sour.
To make a long story short, they are no longer on speaking terms. They are both Medical Doctors.
We are currently stuck without a solution on this commercial property because the other Doctor is in poor standing with BofA. My sister and her husband have good credit. They don't want to default on this property but BofA will not refi with the other Doctor on the loan. Nor can he refi with his bad credit.
I'd be happy to provide loan docs or the property profile to anyone who could help out. A clinic is being run out of the facility and it is generating rental income but due to the BofA loan everything can be put in jeopardy.
Any recommendations would be greatly appreciated. Bankruptcy is not an option they are wiling to take right now.
