Mortgage Forum
Commercial Mortgage REFI
This is a topic titled Commercial Mortgage REFI made in the Mortgage Talk section, belongs to our Mortgage Chat category; I have a commercial property that I fell behind on payments. Currently we are 5 months behind. We had some major repairs that we needed to make and a few ...
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May 5th, 2008, 01:00 AM
| #1 |
| Senior Member Registered: Apr 2008
Posts: 1,497
|  Commercial Mortgage REFI I have a commercial property that I fell behind on payments. Currently we are 5 months behind. We had some major repairs that we needed to make and a few tenants stopped paying us rent as well. In 3 months I will have the money to get caught back up. Currently about 40k. However, in the meantime is it possible to refinance this debt and pay off the current lender or someone how stall the foreclosure process. This lender has been terrible and would not even work out any payments. I even supplied them with invoices of all the work we had to do to the buildings. They didnt care. This is a commercial building. 7 units of office space. It is now fully leased. Or does anyone have an idea on what the process is when they foreclose on a commercial property like this. They have kept saying they were going to do an assignment of rents, however they have not done that as of yet. |
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May 10th, 2008, 06:39 AM
| #2 |
| Junior Member Registered: May 2008
Posts: 26
| Nice thread! I really like your provided information. It's really helpful for me. Thanks a lot!
__________________ Mortgage Company |
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May 12th, 2008, 06:53 AM
| #3 |
| Member Registered: May 2008 Location: Binghamton, NY
Posts: 43
| Mariya...He didnt provide information, he asked a question.
__________________ Recent college graduate with a credit consolidation concentration. |
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