Reduce the Debt you Owe on Commercial Property
If you are a business owner or investor with interest in real estate and your investment properties have added to your debt rather than your income, the attorneys of Weintraub & Selth may be able to help reduce your burden. Our attorneys are extremely experienced at identifying legal solutions and protecting our clients’ long-term financial interests even in the most challenging times. Consult with our lawyers for the advice, insight and advocacy that only experienced lawyers can provide. Lien stripping for commercial properties can be a complex process unless it is trusted to capable attorneys.
Throughout Southern California people seek out Weintraub & Selth because we offer knowledge, experience and practical advice. When you contact us for a consultation about your options for debt relief, we will be completely candid and straightforward about your options. If lien stripping for your commercial properties is not a viable option, we will tell you and explore other solutions.
For details about lien stripping and how we may be able to help you, request an appointment with our legal team. Call our Los Angeles office at (310) 584-7702 or toll free at (866) 572-2423.
What is Commercial Property Lien Stripping?
You may be underwater on a business property loan, such as a warehouse, office building or other type of structure. We may be able to help you strip the mortgage of any secondary or other liens that are attached to the property that are in excess of the property’s worth. This, along with other measures we may suggest, can significantly reduce your debt burden.
This type of lien stripping is only available for investment properties and property that is not the primary business location. If your commercial property qualifies, we may be able to reduce the mortgage to the fair market value with the remaining amount classified as unsecured debt that can be paid back at pennies on the dollar.
Call us as soon as possible so we can help you assess which properties are eligible for lien stripping and how best to execute these decisions. You do not have to sacrifice your real estate investments to protect your finances. Lien stripping on commercial properties may be one option but others exist. Our legal team can look into readjusted or refinanced interest rates on your mortgages. This, alone, may dramatically reduce your monthly payment obligations. Another option may be to “cram down a mortgage,” or aggressively negotiate with lenders to accept new terms, or have a court order a creditor or lender to accept new terms that are fair. We are deeply familiar with the many options available and we have strong relationships with colleagues in the loan modification industry. Our resources are vast and our commitment to our clients is total. Call us to see how we can help you.