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Loan Modifications › Pre-Negotiation Agreements

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
Tonkon Torp LLP

Understanding Workout Agreements for Commercial Real Estate Loans in Default

Tonkon Torp LLP on

When commercial real estate loans go into default, workouts are often pursued to resolve the default by agreement. What are the common forms of workout agreements? For commercial real estate borrowers in default, it’s...more

Cadwalader, Wickersham & Taft LLP

We Can Work It Out: The Need for Pre-Negotiation Agreements

Cadwalader, Wickersham & Taft LLP on

In light of the current economic climate, real estate lenders and borrowers will certainly be communicating with one another frequently concerning potential loan modifications and accommodations. It is prudent for lenders to...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Revisiting Pre-Negotiation Agreements in the Era of Covid-19

Cadwalader, Wickersham & Taft LLP on

While the ramifications of the Covid-19 pandemic for real estate lenders and borrowers will unfold over time, at this point we know that lenders and borrowers will be communicating frequently and extensively regarding...more

Sheppard Mullin Richter & Hampton LLP

Lenders Beware -- California decision may ignite next wave of lender liability litigation

Sheppard Mullin Richter & Hampton LLP on

In a recent decision from the California Court of Appeals entitled Jolley v. Chase Home Finance, LLC, the Court severely curtailed lenders’ ability to dispose of lender liability claims on summary judgment, thereby adopting a...more

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