To Loan Re-Negotiate or Not to Loan Re-Negotiate

Since about a month ago, I have seen many property owners just walk away from their Las vegas Valley Commercial Real Estate Property.  Repeatedly, I have called owners and left messages for them to return my calls so that I can get a first hand account of what they are going through.  Unfortunately, I have only talked to very few of them.

It seems the problem with the Las Commercial Real Estate Market is that Banks with all the U.S. Government money, are least likely to help a small businessman save his over-encumbered property -- that is essentially their last hope of financial freedom.

Almost everyday, I see another property hit the Notice of Default List.  And, a few weeks or maybe a month later, that very same property is on the Notice of Sale List.

The problem is that they first try to re-negotiate the loan themselves.  This puts them at a disadvantage because the lenders are NOT required to help anyone -- except themselves.  Then, they hire a local attorney who is -- let's be honest -- unfamiliar with loan modifications.  The Owner is charged by the attorney to "try" to re-negotiate their loan.

When they fail, the Owner is essentially down to pocket money and they can NOT afford the proper person who has had extensive experience at re-working loans successfully.

Just about every Las Vegas Commercial Property owner, regardless of how many properties they own, are in a sinking boat in an ocean of desert sand.  As tenants are unable to maintain their business -- let alone pay their leases, they move out.  The landlord is unable to re-lease the space, so they end up behind in payments. 

Here is what they should have done in the first place.

There is a web site that explains the loan re-negotiation process.  It is: If you are willing to login and view the 7 minute loan re-negotiation process, it does explain with excellent clarity how to go about re-negotiating your commercial loan. 

And, Yes.  You have to: LOG-IN.  Giving the site Owner an idea of just who is visiting his site and viewing his intellectual information, is a small price to pay to learn about the process that most people do NOT really know.

Oh!  If you have any questions, write a comment.

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