Tag Archives: Commercial Property Foreclosure
Assignment Of Rents And Commercial Mortgages
Commercial mortgages can be subject to foreclosure when the borrower defaults on the mortgage, similar to residential properties. However, with commercial mortgages, the mortgage lender may include conditions in the loan agreement that may later be utilized to recoup the balance owed in the event of a default. One such condition is an assignment… Read More »
Property Owners May Be Required To Make Monthly Payments During Foreclosure
Foreclosures do not always happen on people’s primary homes. Sometimes, foreclosures are filed to reclaim rental or commercial properties on which the owner has fallen behind on payments. For a property owner who is facing foreclosure on a rental property, the long wait times for a foreclosure to be finalized may seem like a… Read More »
