Do commercial building have to be on the market if they have a forebearance agreement with the lender?

In Market Conditions - Asked by carrie b. - Sep 14, 2011
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Answer(s)

Ross W.
Broker/Agent
Northbrook, IL

No, a forebearance agreement basically means that the borrower and lender have some type of agreement to keep the status quo for some time period. It could be for a variety of reasons. It may not have anything to do with the sale of an asset, it could be related to the lender requesting additional information, equity or collateral, or could also be because the borrower is refiancing elsewhere and getting the loan out of the bank.

Sep 14, 2011
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Rob M.
Lender/Mortgage Broker
Houston, TX

That would depend on the terms of the agreement.

Sep 14, 2011
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Eberth M.
Broker/Agent
Las Vegas, NV

If the current owner is still at risk of defaulting on the loan, I do not see why the lender would have a problem with that. It really is to their best interest to allow the current owner sell the property before it goes to foreclosure or they file for bankruptcy.

Sep 14, 2011
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