Our commercial loan workout and restructuring practice has assisted clients, both borrowers and lending institutions, in resolving a wide range of negotiated solutions to resolve real estate loan-related defaults or pending defaults. In many cases, a fair and equitable resolution can be achieved through negotiation, without having to file bankruptcy or litigating the loan default.
The firm handles workout and restructuring services for corporate and individual clients, including:
- Commercial real estate loan workouts and restructurings
- Lease workout services to borrowers and lenders, landlords and tenants, and distressed businesses
- Commercial loan modification, portfolio loan restructuring, receivership, and creative alternatives to debt restructuring
Examples of strategies that may be used to resolve issues in restructuring real estate loan obligations include:
- Loan modification – Changes are made to the terms of the loan so that the borrower can perform under the modified loan terms.
- Forbearance – The lender agrees not to exercise certain legal rights for a specific period of time so that the borrower has a chance to recover financially and bring the loan obligation current.
- Extensions – The length of the agreement is extended so that a borrower has more time to meet the contract’s obligations.
- Short Sales – The lender agrees to accept a partial payment upon the sale of real estate and may provide a release for the remainder of the debt owed.
Examples of clients who may benefit from Loan Workout services include:
- Borrowers in default
- Landlords or tenants
- Distressed businesses
We have has successfully assisted many commercial and individual clients to effectively negotiate the workout of a real estate loan default. Contact our Seattle office today to schedule a consultation.