I uploaded a YouTube video — Bank of America Short Sale Approval Letters – Before and … http://youtu.be/9VUHlMiaYnw?a
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I uploaded a YouTube video — short sale transaction management http://youtu.be/fFJkWSEwZfg?a
I uploaded a YouTube video — Short Sale Listing Addendum – UnderwaterRealestate.com co… http://youtu.be/b4OhCMt4ZXI?a
I uploaded a YouTube video — 2010-07-05_1627 http://youtu.be/zoDg-oL6Bww?a
McConnin & Company just moved to new larger offices. Our new offices are located at 2888 Loker Ave. East, Carlsbad CA 92010. Different z…
I uploaded a YouTube video — 580 b recourse loans and California legislation http://youtu.be/7PYJUcOrwK8?a
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Just felt a nice earthquake here in bressi ranch in carlsbad. This is a test of twitter and google
I uploaded a YouTube video — 2010-05-14_1021 http://youtu.be/bhCaTWlxR1Q?a
I uploaded a YouTube video — What is a Short Sale – According to the CA Assoc of Realtors http://youtu.be/sZdjJjsDGPE?a
Check this video out — Do you need a CA Real Estate license to negotiate short sales in CA http://youtu.be/IMot_U8IJ-o
I subscribed to shortsaleattorney’s channel on YouTube http://www.youtube.com/user/shortsaleattorney?feature=autoshare
Update on HAFA short Sales and short sales with Bank of America and Wells Fargo
Check this video out — HAFA Short Sale Program. Bank of America Short sales http://youtu.be/A9pnnyMZSU0
National Association of Realtors – how to avoid foreclosure – 1099, release from deficiency, short sale attorney. http://bit.ly/9qkJo1
Short Sale Video California Association of Realtors short sale addendum. http://bit.ly/drYKSK
1. The loan or mortgage must be secured by a commercial property, which is basically a property which does not consist of 1-4 residential units.
2. There should be a default or the potential for an imminent default. The default could arise from two sets of circumstances, either a debt service default or a balloon payment default.
In a debt service default the borrower no longer has the cash flow to continue to service the debt during the life of the loan. Commercial loans are usually for a period of 7 years or less.
A ballon payment default occurs at the end the loan when a large lump sum payment is due. The ballon payment.
For the purposes of this blog and our practice we define a commercial loan as a loan or note secured by income producing property.
Some of the factors which go into the planning of a successful commercial short sale or loan workout:
1. Who is on Title?
2. Who is own the Loans?
3. Which Assets are at Risk?
4. What to do if the lender opts for a Judicial Foreclosure?
5. What to do if the lender opts for a non judicial foreclosure?
6. What if the lender opts for both?
7. Is there a personal guarantor? What is his or her exposure?
8. Should you consider bankruppcy, a loan modification, bridge loan, refinance or walk away?
Contact us if you wish to go over our commercial UpsideDownAnalysis free of charge
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