For many businesses, real estate is a large economic investment, and when your company falls on hard times, protecting this asset can become difficult. Fortunately, there are certain legal actions you can take to help your situation, but it is essential to consult with an experienced debt relief lawyer who can work with you to ensure you navigate this process correctly.
Throughout California, people seek out Weintraub & Selth because of our knowledge and experience when it comes to their debt relief real estate needs. We have extensive experience in the area of lien stripping and we can help assess whether this is a viable option for your property holdings.
For more information about lien stripping and how we can help you, please do not hesitate to request an appointment today through email e-mail or by calling our L.A. offices at 310-584-7702 or toll free at 866-572-2423.
If you are underwater on any type of business property loan, such as a warehouse, office building or other type of structure, we can help you strip the mortgage of any secondary or other liens that are attached the to the property and that are in excess of the property's worth.
By lien stripping these properties, that are not the primary business property, we can help reduce the mortgage down to the fair market value of the property and the rest of the amount becomes unsecured debt that can be paid back at pennies on the dollar. We will help you assess which properties are eligible for lien stripping and how best to execute these decisions.
Our Los Angeles lien stripping lawyers can also help you convert lien lien-stripped mortgages into an unsecured debt claim where you may be responsible for only paying pennies on the dollar for an outstanding, existing investment property lien attached to investment properties. Our team can also look into if a higher interest rate you are paying can be readjusted or refinanced to a current market rate that will dramatically reduce your monthly obligation.
Our goal is to help our clients obtain meaningful debt relief through line lien stripping and other methods so that you can increase cash flow and keep your business running.
We have excellent contacts with people in the loan modification industry who can help us and keep us well-informed about changes that can benefit our clients. We are also familiar with how 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.
If filing for Chapter 13 or Chapter 11 is a beneficial option that will help you your business and your real estate holdings, we can help you file the appropriate paperwork and represent you in all court appearances as well. Filing for bankruptcy can give you time to catch up on past payments or negotiate a new payment amount or schedule.
Just because your business is encountering financial hardship does not mean you have to lose your real estate holdings. At Weintraub & Selth, we are here to help you preserve your holdings and achieve debt relief. Contact us today to learn more during an appointment with our skilled attorneys.
For more information, please see our article on lien stripping.
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