Commercial Loan Modifications, Save Your Commercial Property, Reduce your Payment-Rate-Debt

As short-term adjustable notes come due and as more businesses close their doors because of the current economy, many of commercial property owners will be unable to cover the ever increasing debt-service-coverage ratios. This makes it difficult for current owners to refinance their existing properties or keep them in positive cash flow. These troubled owners only have four options: Sell, Refinance, Default, or Modify. With the first three options the following issues remain:

Selling and Refinancing in this market is extremely tough with lending capital in short supply.
Foreclosure/Default is not in anyone’s interest.

Modification is the only logical solution for all parties.

Lenders typically do not want to manage properties; they often would rather rework a borrower's debt and keep the current owners in the property than go through a lengthy foreclosure process. Loan modifications can take less than 60 days, often require less documentation, and cost less than a standard refinance.. Some results you can achieve with a loan modification through Castle Commercial Capital include:

Reduction of the adjustable rate or getting a fixed rate;
Saving one to six months' worth of mortgage payments.
Reduction of the current mortgage note; and
Retaining your interest in the property, rather than entering foreclosure

We will only accept you as a client if we feel your loan can be modified.

Our Six Step Loan Modification Process

1. The first step is the free consultation. Simply call us or fill out the form on the website and one of our specialists will contact you within 24 hours. During this initial consultation, you will be asked a variety of questions, please answer them truthfully and candidly as this will only benefit your overall situation. After our initial conversation, we will be able to determine if you fit within the parameters for our loan modification program.

2. If we unilaterally determine that you fit within our program, then we will send a Loan Modification Consulting Retainer Agreement and a Borrower's Authorization. The Borrower's Authorization, enables our team to communicate with your lender. At this point, a username and password will be created for you so that you may login at anytime and see our progress. You can also ask questions from our backend client interface.

3. In conjunction with the Loan Modification Consulting Retainer Agreement, we will send you the Commercial Loan Modification Application. The following are the items required along with the Commercial Loan Modification Application:

These documents will address detailed aspects of your current and past financial history. Our loan modification specialists will work with you to complete these documents.

4. Once your documents are submitted to us, we will begin communication with your lender and creation of the package to be submitted to your lender.

5. The negotiation and loan revision process generally takes between 60-90 days to complete. Once complete we will present the new loan terms, conditions, and revised loan documents to you for execution.

Four Reasons to have Castle Commercial Capital's Modification Specialists do it for you

Lenders are difficult for two primary reasons: first, you will get strikingly different answers from different service reps every time you contact your lender as you finally work your way to the right person; and second, each of the departments are not set up to assist you unless you already know precisely what they want. To get the best loan modification agreement with your lender, you need persistent and experienced assistance.

1. CCC Modification Specialists know your needs.
They know the right way to contact your lender, and they'll prepare your application for more expedient and thorough processing. When specialists present your case, they will be armed with years of experience as well as all the supporting documents and mandatory negotiation techniques.

2. CCC Modification Specialists achieve the best Loan Modification Settlements.
Lenders will take your case seriously when you have a commercial specialist working hard for you. Because they know how to use real estate market, financial, and legal information as negotiation points and leverage, the modifications they can achieve will be much better than what you can get on your own.

3. CCC Modification Specialists have long-term relationships.
Our loan modification specialists have numerous established contacts with all of the major lenders servicing your loans. Combined with a pristine track record, this network is essential in getting better settlements while providing you with numerous options. Your specialist can get you more lucrative offers including principle balance reductions, lower interest rates and extensions of your loan terms.

4. CCC Modification Specialists buy you time.
When you attempt a loan modification on your own, you will be passed around from one department to another without really moving forward or making any progress towards your loan modification. And if you're already facing foreclosure with your current property, you can't afford to waste time.