The 21st Century is the era of service, and our company is perfectly positioned to help you modify your current Commercial Mortgage Loan, in doing so this will help you meet the growing needs of your customers.
Economists predict that in the near future commercial foreclosures will follow the residential trend. In order to avoid foreclosures and find debt relief, an abundance of homeowners have modified their existing loans. These same benefits of residential loan modification are now available for commercial property owners
What Is Commercial Loan Workout?
A commercial loan workout allows property owners of commercial facilities/properties including office buildings, retail stores, shopping centers etc. to change the terms of their original loan agreement with their mortgage holder.
Just like residential loan modification, more commercial loan holders are flexible and willing to help you keep your property.
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There are a number of solutions that may become available in the process: interest-only loans for a period of time, reduction of interest rates or extending the terms of the original loan and in rare cases you can even lower the commercial loan balance of the property.
By making your loan more affordable your business can get back to making a profit again. Many lenders will refinance any current delinquencies back into the note.
Do Lenders want to foreclose!
No! It is very common for lenders to lose money on foreclosures. If they are forced to claim ownership of a property their costs in maintainiing the property, taxes, and sales expense only add to their losses. Add these costs to lower market values and you can see why lenders do not want to foreclose.
Commercial loan modification can be a complicated process that involves several stages and parties. Although it is possible to do on your own, most individuals do not have the time or the training to do so. Let us use our expertise to help turn a no into yes.
When borrowers have financial difficulties and have alternative financing options, lenders are open to negotiate. We demonstrate to lenders why it is in their interest to work out a new arrangement with you. Lenders are often willing to reduce the interest rate, monthly payment amounts and/or loan term to allow you to avoid foreclosure and avoid a loss in their commercial real estate portfolio.
Our Expert Negotiators Get Results!
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Make the right decision, Click on "How To Choose The Right Company"
"My business partner and I were in way over our heads with our property. We bought it a couple of thousand dollars above current market value and hoped that we could make a little money by leasing out a couple of offices. When the market...."
Lenders are difficult for two primary reasons: first, you will get strikingly different answers from different service reps every time you contact your lender as you finally work your way to the right person; and second, each of the departments are not set up to assist you unless you already know precisely what they want. To get the best loan modification agreement with your lender, you need persistent and experienced assistance.
1. UCS Modification Specialists know your needs.
They know the right way to contact your lender, and they'll prepare your application for more expedient and thorough processing. When specialists present your case, they will be armed with years of experience as well as all the supporting documents and mandatory negotiation techniques.
2. UCS Modification Specialists achieve the best Loan Modification Settlements.
Lenders will take your case seriously when you have a commercial specialist working hard for you. Because they know how to use real estate market, financial, and legal information as negotiation points and leverage, the modifications they can achieve will be much better than what you can get on your own.
3. UCS Modification Specialists have long-term relationships.
Our loan modification specialists have numerous established contacts with all of the major lenders servicing your loans. Combined with a pristine track record, this network is essential in getting better settlements while providing you with numerous options. Your specialist can get you more lucrative offers including principle balance reductions, lower interest rates and extensions of your loan terms.
4. UCS Modification Specialists buy you time.
When you attempt a loan modification on your own, you will be passed around from one department to another without really moving forward or making any progress towards your loan modification. And if you're already facing foreclosure with your current property, you can't afford to waste time.
Four Reasons To Have United Commercial Solutions do it for you!
