Which Real Estate Attorneys in West Palm Beach Fight Commercial Foreclosure?
Foreclosure may be a big problem for homeowners, but it’s also a big issue for businesses. If you are facing commercial foreclosure, you need the assistance of knowledgeable real estate attorneys in West Palm Beach. At Bruce S. Rosenwater & Associates, P.A., we offer the best approaches to fighting commercial foreclosure. There are some processes similar to fighting residential foreclosure, but on a larger scale. At Bruce S. Rosenwater & Associates, P.A., we can help you understand your best options for fighting commercial foreclosure.
How can foreclosure lawyers in West Palm Beach help me?
Fighting foreclosure starts by understanding your rights. There are some options that are common for fighting both residential and commercial foreclosure. Our commercial real estate attorneys in West Palm Beach know that options such as loan modification may be able to help. With loan modification, you may be able to secure a better interest rate on your commercial loan, which can make the difference of thousands of dollars in your monthly commercial mortgage payment.
Other options include forbearance. In the mortgage sense, forbearance can be a big help. This helps you get your mortgage payments reduced or even suspended for a short period of time. It’s a tool used when someone is facing temporary financial hardship, such as loss of income due to damage to a business from storms or fires. The main qualification for forbearance is that there is a clear end in sight, such as an insurance payment coming through, or repairs putting your business back in order.
What are my other options for fighting commercial foreclosure?
Our real estate attorneys in West Palm Beach know there are other factors that influence your foreclosure. If your current property is too big for your business, or too big to afford, perhaps downsizing is key. In this case, you may enter into a short sale while relocating to a more affordable space.
Even if you have a personal guarantee on your commercial mortgage, you may be able to find relief from fore closure. Or knowledgeable foreclosure lawyers in West Palm Beach can help you avoid headaches of foreclosure by choosing the solution that’s your best fit.
Commercial foreclosure can be overwhelming to face. But, you do have options to get things back in order. If you’re facing commercial foreclosure, call our West Palm Beach commercial real estate attorneys to learn your best solutions.