Most commercial real estate loan documents give meaning to the phrase “real estate is old as dirt.”  Why? Because just as dirt doesn’t change, commercial mortgage loan documents largely ignore the impact of technology on the physical attributes, use and operations of the property.   Take another look at your mortgage loan forms with these

Lenders are refreshing their mortgage loan documents with provisions based on the “lessons learned” during the recent (continuing?) economic experience.  One change is to add a service of process provision. The change is based on this basic lesson learned: when the tough times hit, borrowers and guarantors sometimes are hard to find. A few simply

Two recent cases are good examples of “why” secured lenders, who hold liens on real property, correctly view bankruptcy court as a very, very, very bad place.  One case has received a lot of attention, including an appeal of the decision and state legislation; and the second bankruptcy ruling was overturned on appeal.

The lessons

With more life companies and banks either returning to loan originations, or considering it, now is the time to revisit your basic loan document forms, and to revise them based upon the “lessons learned” during this market downturn. But STOP.

 

Simply grabbing or creating a list of topics and then changing your forms will NOT

The dead are beating their lenders in recognizing the value of, and then protecting, their on-line lives – I mean assets. Does the tortoise beat the hare (again)? Even when the tortoise is dead? This perspective rings out in this:

  • The Dead: on-line assets (accounts, sites and materials) are recognized as an important asset

(More on the Collection Plate collection, which focuses on the recovery side of our work – the bottom line, nitty-gritty, work of getting "back" the money.)

Our economic eddy is at the stage where law suits against guarantors or indemnitors, on full payment and performance agreements or on "bad-boy" agreements, are reaching final judgment –