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Commercial Loan Modification Part 2

What We Do
Whether you are currently late in payments, or you anticipate potential cash flow problems in the future, we will diligently work with you and your lender to negotiate, workout, modify, or refinance your property.

audit management

We will:

  • Audit your loan documentation to make sure that your lender has binding legal contracts and is servicing your loan properly;
  • Work with your lender to reach the best financial solution possible, quickly;
  • Be honest and always advise you what we can accomplish for you;
  • Document and draft new loan terms that your lender has offered and agreed to honor;
  • Assist in successfully facilitating your commercial loan modification during our contract term.
How We Do It
We have worked with lenders, from big nationwide conglomerates, insurance holding companies and small community banks, with our past clients, and we know who to talk to to start the commercial loan modification process. We will gather the necessary information, such as your financial data, marketing data, short- and long-term cash flow projections and business and marketing plans that show how your business will meet its current and future financial obligations. We will help you formulate a realistic game plan to convince the lender that any financial problems are short lived, will be corrected and not recur. But until then a commercial loan modification is the best possible course of action for all parties.
We strive to provide first-class representation during these difficult times. We have a full staff of legal professionals to assist you and answer any questions that you may have. After we have a formal engagement, we immediately start the process of building a compelling case and start the negotiation process with your lender.

commercial loans

After we meet with you, we formulate a winning game plan, gather the necessary documents to formulate our strategy. We may ask you to create or update critical documents, such as business plans and your financial preforma or gather other information such as marketing data to help us build your case for lender presentation. We also audit all of the loan documents to determine whether your lender has followed all State, Federal and Banking lending statutes.
These preliminary action steps should take less than a month, depending on your urgency and ability to deliver supporting documentation and exhibits.
We will then contact the Lender on your behalf, and begin the negotiation process. Although most lenders are expected to be overwhelmed, we expect to be able to come to terms within 90 to 120 days of initial submittal.
Thereafter, we will need around 30 days to monitor the lender’s progress drafting new commercial loan documentation, making sure all new terms are included in new contracts or addendums. Depending on your cooperation and the cooperation of your lender, the entire process could take as long as six months.
Due to our pre-qualification process, the majority of our clients can expect to get the solution outlined in your contract. When you become our client, you can rest assured that we are going to do everything in our power to get the job done for you. However, unusual circumstances do arise. In these rare instances, where the client does not wish to go forward with the modification negotiation services, the client can cancel the loan modification agreement within 3 days of submitting their file to audit for a full refund of all monies paid.
The Legal advocacy group will be deemed to have met their contractual obligations if the lender offers the client any sort of modification, whether directly to you, the client, or some other intermediary.
The Legal advocacy group will also be deemed to uphold their end of the agreement if the lender acknowledges the client’s request, but refuses to offer the client any type of modification.
In cases where law office is unable to secure more favorable terms for the client, the client will be not be entitled to a refund of their deposit. A copy of the refund policy is available for your review: just call or write and we will be happy to provide a copy.

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