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Commercial Mortgage Refinance There is no cause for panic for Help is at Hand

Bet you never thought it would happen to you. You must have been under the assumption that the economic downturn and job losses had to do with huge corporate companies and had nothing to do with your small business.

Suddenly you realize that your markets are not paying you in time, the sales order pipeline is shrinking and you are not having sufficient cash for day to day expenses. Before long you find your suppliers increasing prices as well as asking for cash payment with no credit and you realize that inflation has begun to set in.

It is becoming increasingly difficult to pay the salaries to the staff, pay your suppliers, and pay the banks for the building loan, the working capital loan and vehicle loans that you owe. Things get worse with you having no money coming in from the markets, no money left to pay salaries and the bank, results in bank freezing your account , followed by demand for mortgage payments.

It is quite normal for people to first consider selling their home and office building on short sale and close the loan with the bank. You should instead of thinking on these lines, look out for financial consultants who are experts in restructuring and commercial loan modification.

These financial consultants will first analyze the health of your balance sheet and keeping in view the business prospects and future growth potential of your assets, design the financial outlay plan that will get you out of current trouble. Since they understand how bankers work and look at investments, they can help you renegotiate with your bank too.

If you believe that there is no money in the market and banks are not lending money, to a certain extent it is true. The money is available in the market but not seen by everyone. Many investment companies would understand the current realities and still be willing to finance your business or re finance your loan outstanding.

You have several options while dealing with your outstanding liabilities. Short sale and foreclosure are not the only options and there are several other options too. Your mortgage payments can be deferred, your loan restructured along with interest rates renegotiated for a longer term. There are options where you can make part payment towards the principle and restructure the rest of the loan outstanding.

One of the latest practices being engaged with in the investment circles happens to be the DPO's, which stands for Discounted Payoffs. The investor agrees to remove the liability from his books and follow through with required regulatory adjustments. In turn, the borrower on the other hand has to clear the loan outstanding within the period agreed by refinancing or coming up with other sources to pay off his liabilities. You will now be able to borrow funds from the bank with a fresh loan and get the required working capital to get your business underway once again. When working out all these plans, it is important that you get the advice from your CPA regarding tax and legal liabilities and implications at all times.

Commercial Mortgage Refinance There is no cause for panic for Help is at Hand

By: Taylor Long
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Commercial Mortgage Refinance There is no cause for panic for Help is at Hand Ashburn