Commercial Loan Modification
Are you having difficulty making your payments on your Commercial Property? Don’t feel alone! Millions of people just like you are in the same situation!
With Property values declining in the United States and loans coming due, many landlords cannot meet the monthly payments demanded by the banks! They are also in a position where they cannot refinance! So the only two alternatives are to either get the bank to modify the loan to a payment you can afford or possibly get them to accept a Short Sale.
USA Equity Partners, LLC is a Real Estate Acquisition, Private Banking and Loan Modification Company based in Southern California. We have 30 years experience in Real Estate Acquisitions! Unlike many other companies now trying to jump in early in the loan modification business, we are actually Commercial Real Estate Investors ourselves! As Private Bankers through our sister company www.LGCapitalLending.com, we represent Hedge Funds for Commercial Real Estate Investment in the Billions of dollars!
We know what it takes to get a loan modification approved by the bank, which gives you the landlord the best chance at keeping your property and avoiding a Deficiency Judgment!
If for some reason we cannot negotiate a successful loan modification with your lender we may be able to provide other services through our Bank or through a Short Sale where we may also be interested in purchasing the property if it fits into our portfolio.
Commercial Loan Modification
We can help reduce your interest rate
We can help eliminate or reduce late fees
We can help reduce interest penalties
We can help extend or modify your loan
We can reset Balloon payments
We can negotiate short term forbearance
We can negotiate short term interest only payments
We can help you get back on track
We save you time and money…
NO Appraisal Fee
NO Credit Check
NO Background Check
If you have a Balloon coming due or you have not been able to refinance due to…
Cash Flow problems
Equity Issues
Poor Credit
Slow Pay
The Economy
We Can Help! Here’s How…
FREE…Pre-Qualifying…NO Application fee!
EASY…Simple qualifying form…simply fill in the blanks!
FAST…Qualify in days…not weeks!
Everyone is aware of our economic crises and nationwide home foreclosure and commercial loan foreclosures that are having a devastating impact on our financial system. Congress has stepped in and is working to help residential homeowners, but the next crisis that is now upon us, is commercial loan defaults.
Expected Losses
This new wave of commercial loan defaults is expected by most economists and other experts to be even worse than the residential crises we are now facing. Experts are estimating that two-thirds of all commercial real estate loans due in the next few years will become delinquent and will lead to foreclosure and financial ruin for banks, servicers and insurance holding companies and for the borrower or property owner as well.
The market has changed. The commercial vacancy rate has risen to the highest rate since the ‘90s. With vacancy rates high and climbing, landlords not collecting rents, shoppers not spending, real market rents lower than originally forcasted and strong signs that inflation will soon be running rampant. Experts are predicting that, due to these problems and more on the horizon, within the next few years, commercial real estate owners will encounter the same problems currently facing homeowners.
Hotels, retail shopping centers, warehouses and office buildings cannot escape this fate. There are $1.3 trillion in loans to commercial properties coming due between now and 2013. The coming commercial real estate crisis could be as bad as or even worse than what occurred in the early 90's.
Top Foreclosure States
As with the home foreclosures, the highest commercial delinquency rates will likely be in the areas that got most overheated, such as parts of Florida, Nevada and California. Added job cuts will also lead to vacancies in many metropolitan areas throughout the country. These states also suffered from the most overvaluation of property; they have high vacancy rates, and high jobless rates. This combination is the perfect storm and will cause the commercial real estate market to falter.
What We Need From You
We will review your current loan documents and financial situation, but before we meet, please gather as much of the following information as possible:
A copy of your initial loan application and supporting documents (including any secondary loans on the property)
All loan documentation including all agreements and correspondence when you acquired property.
Rent Rolls and other leasing information (if you are a landlord).
Short term and long term projections.
Personal or Business Tax Returns and bank records dependent on ownership structure, property tax records, maintenance records, budgets and your property specific P&L statements for all properties under management.
The most recent appraisal of the property.
Any recent marketing data that you have compiled, reflecting current economic environment.
List of similar buildings that represent competition in your market area. Any correspondence that the lender may have sent to you (Delete Other information that the lender may ask for or that may help you)
Anticipated Time Line
After we meet with you we will prioritize the critical issues to deal with and gather any additional documents needed to fight on your behalf. We may ask for you to create or update some documents (such as your business plan) or gather other important information (such as your marketing data) to help us with our representation. We will also, at that point, audit all loan documents and perform a complete underwriting analysis, in order to determine whether your lender has complied with all Federal and State specific laws. These steps should take less than a month, depending on how quickly you can provide us with documentation and your complete cooperation.
After we have built your case and decided on the best possible strategy, we will contact the lender on your behalf, and begin the negotiation process with them. We work as diligently as we can to receive the best deal possible for you. Lenders are overwhelmed attempting to manage their portfolios and limit losses, but can still anticipate finalizing negotiations within 90 days.
Thereafter, we will need around 30 days to draft, and finalize the workout documents and close. Depending on your cooperation and the cooperation of your lender, this entire process may take as long as six months.
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.
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
USA Equity Partners has 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 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.
Services of USA Equity Partners,
USA Equity Partners strives 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.
After we meet with you, we formulate a winning game plan and gather the necessary documents to refine our strategy. We may ask you to create or update critical documents, such as business plans and your financial performa 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 your 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.
