Prolonged Recession Leads To Commercial Loan Modifications

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With the economy in a prolonged recession, more and more business are having trouble meeting their obligations on commercial real estate loans. They are turning to a specialized group of negotiators targeting commercial loan modifications.

The alarming number of commercial real estate defaults have prompted commercial lenders of all sizes to become willing to renegotiate the terms of commercial mortgages to help avoid foreclosures.

Mortgage Leads Network has assembled a team of experienced attorneys and consultants that specialize in commercial loan restructuring to help commercial property owners gain leverage in negotiations with lenders.

Commercial property owners in the United States or Canada can log on to http://www.commercialmodification.com to register for a free consultation with an experienced loan modification consultant that specializes in commercial mortgage workouts.

Commercial Loan Modification is when a business or individual that owns a commercial property such as a strip-mall, shopping center, apartment building or mobile home park, agrees with the mortgage holder to permanently change the terms of the original note.

These loans are often known as portfolio loans since they are often not securitised like Fannie Mae or other single family residential loans. Since the investor of the loan is often easier to identify and approach, the attorney hired by the property owner is much more effective in negotiating a solution to the benefit of both parties.

Qualified commercial mortgage specialists can register for service at Mortgage Leads Network web site http://www.mortgageleads.net.

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Theodore Schmidt
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