Although businesses are typically afforded less protection than individuals when entering into loans, business lenders are often willing to renegotiate loan terms with struggling businesses. Many factors will be considered by your lender once they are approached with a workout proposal; such as the value of the real estate, the financials of the business, whether your business has other loans with the same lender, and others. Many lenders prefer to adjust your loan terms to match what you can pay, rather than foreclosing on your commercial real estate. The attorneys at the Butler Law Office can review your loan and your business financials to determine if you are a likely candidate for a workout of your commercial real estate mortgage. Often you will only have one opportunity to reduce your commercial mortgage loan payments. Make sure you have a strong and experienced negotiator on your side by hiring the Butler Law Office.
The Butler Law Office has over thirty three years of legal experience and can assist you in keeping your commercial real estate and staying in business!