For owners with distressed loans and lenders who cannot afford the multitude of foreclosures dropping in their laps, loan modification offers a solution that helps those on both ends of the agreement. However, making a loan modification work for a particular lender depends heavily on previous experience in modifying commercial loans. Many lenders without this experience are hiring outside consultants and sending their best professionals back to school or to detailed seminars about the process. This white paper is intended to be a primer for lenders who are inexperienced with commercial loan modification, and it allows them to go into a full class armed with relevant background information.
- Learn what commercial loan modification is.
- Review primary lender goals.
- Identify what to do before negotiating a commercial loan modification.
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