Commercial loan modification basics

Commercial loan modification options are available for most but not all properties. In general, there are more properties which qualify than ones that don't. Properties which are usually NOT considered acceptable for loan modification include:

ALL Property Outside the USA

Undeveloped Properties, Including but not Limited to:

Raw or entitled land or tracts
Lot loans
Construction sites
Projects under development or rehabilitation projects

Properties Financed under the Following Programs:

SBA financed properties (including 504 and 7(a))
USDA financed properties (particularly B&I programs)
Non real estate secured loans (including SBA, 7(a) and FFE)

Most Dealerships, Including:

Auto
Boat
RV
Motorcycle

Shared Properties such as Timeshares or Condo-Tels

For more information on how you get approved for loan modification

Contact us for free consultation!

Bankruptcy Cases:

Businesses which have filed for bankruptcy are not eligible; also, individuals who have filed bankruptcy and included business holdings in the bankruptcy are ineligible. Bankruptcy places an automatic 'stay' on all aspects of the business.
Certain state specific exclusions may also apply:
In New Jersey, multi family properties consisting of 6 units or less are not eligible for commercial loan modification regardless of ownership title.

In Florida, commercial properties held in the name of entities (Corp., LLP, LLC, etc) only are eligible; properties held as a sole proprietor, by in joint tenancy, community property or tenants in common are not eligible for commercial loan modification.

Other properties only approved on a case by case basis include:

Entertainment venues, such as amusement or theme parks, sporting facilities and arenas, or adult entertainment structures with interior non-structural poles

Recreational areas, including RV parks, campgrounds, marinas, golf courses and retreats

Miscellaneous properties including vacant or agricultural properties or those owned by real estate, mortgage, finance, title or escrow companies

Properties which DO qualify for commercial loan modification include many types of income producing and business related properties, as well as many owned by tax free or non-profit organizations.

Examples of eligible properties are as follows:

Retail Properties

Groceries, markets and gas stations (including those with convenience stores)
Anchored and unanchored retail centers
Car washes and auto service/repair stations
Bowling alleys
Mini-storage units
Nursery/greenhouses

Industrial Properties:

Light, medium or heavy industrial facilities
Warehouses / manufacturing
Industrial condos
Multi-use properties

Hospitality, Food Service and Office Properties

Flagged and un-flagged hospitality
Restaurants
Cafeterias
Bars/saloons
Catering
Office buildings or individual office space

Income Producing Residential Properties:

Single tenant properties and most multi-family units consisting of 5 or more units
Mobil home parks
Mixed use properties (residential/commercial)

Health and Care Related Facilities:

Hospitals and hospices
Medical clinics and dental offices
Health spas
Daycares
Assisted living centers or nursing homes
Funeral homes

Religious, Educational and Charitable

Churches, mosques, synagogues or temples
Schools and other educational facilities
501(c)3 not-for-profit owned properties

There are several possible ways to implement commercial loan modification. Depending on the property and individual circumstances, one or more of the following solutions may be offered:

More time to pay via extensions or refinancing:

Term extensions (maximum 5 year balloon)
Cash advances for tenant improvements or completion of rehabilitation of property
Conversion from adjustable rate to fixed long term amortization
Short term refinance authorization followed by new financing

Reductions in the amount owed or forgiveness for a portion of the debt:

Interest rate
Convert to interest only payments for short time periods (up to 2-3 yrs)
Principal balance

Cancellation of extra fees or penalties:

Prepayment
Lock-out
Defeasance
Yield maintenance
Late fees

The chance to walk away through relinquishment of the property

Short sale authorization
Deed in lieu of
Cash for keys

Commercial loan modification generally takes 45-90+ days to complete (from date of submission). All transactions are handled professionally through 'special servicing', 'master servicing' or 'special asset' units. These units have extended authority which allows them to streamline and expedite loan modification requests.

Home page from commercial loan modification basics
Forms of commercial loan modification

Életvezetési tanácsadás, gyermekjármű és elektromos kisautó, szőnyegtisztítás, autósiskola, chiptuning, Chef, vulvar dryness, Hungarian goose down Duvet, fitness edzés, terembérlet árak, kismama torna

életvezetési tanácsadás, karrier tanácsadás gyermekjármű és elektromos kisautó kismama torna, terhes torna fitness edzés budapest chiptuning Chef nagykonyhai berendezések hungarian goose down duvet vulvar dryness fitness edzés budapest terembérlet árak Életvezetési tanácsadás, gyermekjármű és elektromos kisautó, szőnyegtisztítás, autósiskola, chiptuning, Chef, vulvar dryness, Hungarian goose down Duvet, fitness edzés, terembérlet árak, kismama torna