When a commercial mortgage lender sets out to enforce a mortgage loan following a borrower default, a key goal is to identify the most expeditious manner in which the lender can obtain control and possession of the underlying...more
Many owners of commercial properties across the country encumbered by mortgage debt are still struggling to navigate the distressed real estate market, primarily due to their inability to pay current debt service resulting...more
Back in March, we wrote about the then-current news of some of the nation’s largest real estate owners defaulting on loans secured by office buildings. At the time, we envisioned a market ripe for borrowers and lenders to...more
Amidst soaring interest rates and the recent swell in commercial real estate loan workouts, borrowers and lenders alike are increasingly considering an alternative to the traditional and sometimes long and cumbersome...more
In a deed in lieu of foreclosure, a defaulting borrower agrees to convey the mortgaged property to the mortgage lender. But handing over the keys can raise a number of potential pitfalls. Below, we discuss some of these...more