Are banks offering loan mods on industrial/commercial properties in Ca.? Jan B.

In Market Conditions - Asked by Janice B. - Jan 19, 2010
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Answer(s)

Amit Y.
Broker/Agent
West Hollywood, CA

Yes. What are the specifics of the deal?

Jan 19, 2010
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Ariel W.
Researcher
Los Angeles, CA

Dear Janice,
Yes...the process is called a loan workout. Give me a call at: 213-814-4129 and I'll give you some pointers.
ariel@specialassetconsulting.com

Jan 21, 2010
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Chris S.
Broker/Agent
Coeur D'alene, ID

Yes, but what the banks are willing to do depends on 100's of factors. What's the property worth? What's your loan balance? Is it a recourse loan? If so what other assets can they go after if you default?
If you are doing fine, making your payments, have a recourse loan and just want to modify the loan becuase property values are down ... it ain't going to happen.

Jan 22, 2010
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Brad U.
Broker/Agent
Rancho Cucamonga, CA

The banks do not want to take properties back. If you have a cash flow issue and you have a plan on how to resolve this issue, many banks are willing to listen. Lots of factors at play. There are no freebies. Brad Umansky, www.progressiverep.com.

Jan 30, 2010
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