For many lenders, foreclosing on a property is the option of last resort. Borrowers, understandably, also wish to avoid foreclosure. Kriss & Feuerstein LLP offers assistance with loan workouts and restructuring to help borrowers and lenders avoid the time and expense of foreclosure. Our expertise in real estate and finance means that our clients will be protected, even if the restructured loan does not perform as expected.
The firm represents developers that are renegotiating loans with their lenders. Our attorneys assist clients with preparation of the documentation required by the lender, such as cash flow projections and a new business plan. In addition, we can negotiate new loan term solutions with the lender.
Kriss & Feuerstein LLP's also represents lenders in cases of loan workout and restructuring. We offer assistance by analyzing projections of the business/development and ensuring that the borrower has the ability to repay the newly negotiated loan.
Should lenders need additional assistance with delinquent loans, our attorneys will find creative solutions for them, including selling or leasing REO (real estate owned) properties, and negotiating deeds in lieu of foreclosure.
