Loan Workouts




        • Business Planning
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        • Development and Management
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        • Commercial/Residential Loan Workouts
        • Commercial Lease Negotiation
        • Foreclosure Defense
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        • Consulting


Commercial Loan and Lease Workouts

We represent developers, owners and tenants in troubled real estate projects, investment workouts, debt restructurings and lease negotiations and renewals. We have successfully renegotiated commercial notes with workout solutions that are mutually beneficial to both our clients and their lenders. Our expert negotiators have been able to obtain favorable, permanent changes in the terms and conditions of our clients’ commercial loans and lease terms. Our commercial loan modification program has helped our clients keep their properties and be able to meet the cost of operations. We are dedicated toward helping our clients obtain the perfect workout solution customized to their needs. By developing and implementing effective workout agreements and reorganization plans, we are able to assist our clients in making the correct critical decisions necessary to save troubled businesses and assets. We also provide receivership, foreclosure, and insolvency-related litigation services in state and federal courts. These services include the defense of real and personal property judicial and non-judicial foreclosures, the defense of preference and fraudulent transfer litigation, representation in receivership proceedings, negotiating deeds in lieu of foreclosure, and negotiating the sale of distressed properties.

Residential Loan Workouts

If mortgage payments have become unsustainable, a loan modification may help to save your home. The purpose of a loan modification is to provide you with a mortgage payment you can afford. The process is actually very similar to a mortgage refinance but instead of entering into a new mortgage we work with lender(s) to modify the terms of our clients’ current mortgage. While it is not necessary to hire an attorney to arrange for a loan modification or other form of forbearance from a mortgage lender(s), obtaining proper legal advice from an experienced loan modification attorney helps ensure the best possible loan modification with lender(s) and may help preserve credit. We can help lower interest rate(s), extend the term(s) of loans, lower the principle balance of a loan and potentially get rid of a second mortgage. For clients behind in their mortgage payments we may be able help stop the foreclosure process.

We provide a free initial consultation to walk our clients through the loan modification process and determine the best approach to obtain a permanent loan modification from lender(s). Upon retention, we analyze every client’s financial situation and create a tailored loan modification package that assists the lender to quickly make a decision regarding modification. Our knowledge of state and federal laws allows us to gain leverage and negotiate the best possible loan modification terms for our clients. Legislation, regulations and lender guidelines change frequently and often without notice. Each attorney and staff member of Hoffman & Forde, Attorneys at Law stays current with respect to relevant issues and resolution strategies through research and continued education regarding lender and servicer guidelines and federal and state regulations. It is this dedication that allows us to provide our clients with the most cost effective and efficient representation. Our attorneys and staff members have numerous established contacts with major lenders holding and servicing our client’s loans. These contacts, along with regular follow-up calls to the lender(s), allow us to quickly navigate the complicated loan modification process and provide our clients with a resolution in an expedited manner. Throughout the entire process, we provide our clients with updates every step of the way to ensure they are kept informed as to the status of their loan modification.

Foreclosure Defense

Should a lender be unwilling to negotiate a reasonable loan modification, we help clients bring an aggressive defense against impending foreclosure proceedings. In the face of foreclosure, experienced and aggressive legal counsel is critically important. We have the experience and resources to properly handle the litigation of your case, as we protect your interests and rights every step of the way. We aggressively challenge the lenders and make them prove their ability to foreclose on clients’ homes. We take lenders to task for predatory or fraudulent loan origination and servicing, MERS and other title-transfer issues and loan documentation problems.

If you would like to discuss our loan or lease workout services, contact us today.