CommercialLeads.net - (www.commercialleads.net) Commercial Loan Modification Basics

Updated: March 01, 2010

83 Billion Dollars in Commercial Loans are in default now with more than one trillion coming due through 2010. If and when CMBS (commercial mortgage backed securities) come back online the rules will be different and it will take time for the market to adjust.

The need to restructure or modify commercial loans will continue to increase putting pressure on both lenders and the government to save trillions in loans that are coming due.

Contacting the lender or a modification specialist. When making contact with either there are several documents you should have ready.

  1. Updated PFS (personal financial statement)
  2. Updated I/E (Income and Expense Report)
  3. Updated Rent Roll
  4. Current Mortgage Statement
  5. Commercial Loan Modification is possible and can be done so that the lender and property owner benefit but must be approached as a business solution not a favor. If you come to the lender with numbers that make sense and a plan to resume regular payments or have the loan refinance later by another bank your proposal has a good chance for success.

    83 Billion Dollars in Commercial Loans are in default now with more than one trillion coming due through 2010. If and when CMBS (commercial mortgage backed securities) come back online the rules will be different and it will take time for the market to adjust.

    The need to restructure or modify commercial loans will continue to increase putting pressure on both lenders and the government to save trillions in loans that are coming due.

    Contacting the lender or a modification specialist. When making contact with either there are several documents you should have ready.

    1. Updated PFS (personal financial statement)
    2. Updated I/E (Income and Expense Report)
    3. Updated Rent Roll
    4. Current Mortgage Statement
    5. Commercial Loan Modification is possible and can be done so that the lender and property owner benefit but must be approached as a business solution not a favor. If you come to the lender with numbers that make sense and a plan to resume regular payments or have the loan refinance later by another bank your proposal has a good chance for success.

Featured Research
  • 2017 Contact Center Software Cost Guide

    Are you paying too much for your contact center software? Are you satisfied with its capabilities, or do you wish it did more? These are questions most businesses don’t take the time to think about, even though contact center software is one of the most important investments that you’ll make. With a little bit of planning, you can end up saving money and still end up with better functionality. more

  • What You Need to Know About VoIP Security

    No matter the industry or area of expertise, a strong VoIP system is the perfect tool for any business looking to take both its internal and external communication to the next level. more

  • Are You Using These 5 VoIP Features?

    In large part, the success of your business depends on the strength and reliability of your team’s many communication networks—this includes your Voice over Internet Protocol system (VoIP). more

  • Video Conferencing Best Practices

    Video conferencing is quickly becoming one of the most important communication channels for both small and big businesses. As more businesses turn to this technology, expectations about the experience are also rising. It’s not enough to just offer video conferencing as a communication method. You also need to meet minimum audio and visual standards, and there’s even proper etiquette to consider. more

  • 10 Contact Center Myths Busted

    For most forward-thinking companies, the use of contact center software is on the rise. That said, in spite of contact center software’s sudden rise in popularity, a number of myths have begun to take shape. more