The economy is showing signs of improvement but we are far from a flourishing economic environment in Florida. One of the key pieces of evidence is the amount of commercial properties facing foreclosure as businesses struggle to make ends meet in the face of depressed consumer demand and consumer confidence.
If you are the owner of such a property, what options do you have to protect what you have worked so hard for? Let us explain how our foreclosure defense services can help you in your time of need.
Myth: Commercial Foreclosure Defense Is Not An Option
The truth is that whether you can defend against foreclosure will depend on your specific circumstances. Most importantly, it will come down to the terms of your mortgage note.
We will pour through the terms of your mortgage to determine what leverage you have with your lender.
Preventing Foreclosure Before It Happens
Being proactive is always the best course of action when available. Prior to foreclosure becoming an imminent threat, we are often able to find solutions for our commercial clients such as commercial bankruptcy and debt negotiation.
Loan Modification
Putting ourselves in the shoes of a lender, we would rather have someone making a payment – even a lower payment – than a vacant property we are paying taxes on after a foreclosure. We are often able to get lenders to agree to loan modifications that allow our clients to stay in their property and keep the monthly payments flowing to the lender.
The bottom line? If you are having trouble making the payments on your commercial property don’t fall for the trap of thinking foreclosure is inevitable. There are almost always options available for improving your situation. Contact us today to find out more.
