What options does a creditor have after a borrower defaults?
There are a variety of legal mechanisms by which a creditor can assert the legal right to recover an unpaid debt. LawInfo Lead Counsel qualified real estate attorneys provide quality representation for banks, pension funds, insurance companies and other institutional lenders, and worked on all property types from singlefamily suburban land development to downtown office buildings in negotiated restructurings, bankruptcies and foreclosures of distressed investments. They are well versed in the specific laws and legal techniques associated with distressed real estate loans, including:
· Mortgage foreclosure
· Consent foreclosure
· Deed in lieu of foreclosure
· Single asset bankruptcy, including "cram down" analysis, lift stay and bad faith filing
· Uniform Commercial Code (UCC) sales
· Negative amortization
· Springing guarantees
· Consolidations and spreaders
· Lock boxes
· Participating mortgages
· Debt to equity conversions
· Secured debt to mezzanine conversions
· Mezzanine debt foreclosure
· Debt sales
· Receivership Mortgagee in possession
· Nonrecourse carveout analysis and collection
· Ground lease terminations
Speak to an Experienced Loan Workout Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified loan workout lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local loan workout attorney to discuss your specific legal situation.
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