Illinois Commercial Loan Modification

The multi-disciplinary professionals who make up the Nicolosi/Buckley workout team have real world experience and technical expertise to structure deals that minimize the impact of a borrower's financial obligation.

The borrower in challenging economic environments has a range of issues that need to be carefully evaluated before entering into agreements with its lender or settling for a quick liquidation solution. 

Some of the important issues that should be considered include:

1) what is the income tax liability associated with a short sale?

2) Is there liability to the homeowners’ association for unfunded obligations?

3) Are there partners or investors who need to understand and/or approve the short sale?

4) Are there loan recourse issues that need to be addressed?

These matters must be carefully thought through as part of a comprehensive resolution to the borrower’s obligation to the lender. 

Contact us today to speak with an experienced workout professional.