The peaks and valleys of the economy continue to affect business owners, especially those involved in commercial development. Property owners, developers and construction contractors throughout Texas working on what started out as thriving development projects suddenly find financing sources hard to come by due to economic challenges and downturns.
The service of a foreclosure notice is not the final step in the process. Do not pack up your offices, send your workers home, or abandon a project and property. Options exist to save properties and projects.
Exploring Options To Save Your Commercial Property From Foreclosure
At Bennett, Weston, LaJone & Turner, P.C., we advise Dallas-based developers, owners, investors and buyers seeking to resolve their contractual obligations without defaulting and forfeiting the property and their investment. Simply stated, our lawyers find options to commercial foreclosure that clients did not know they had. They include:
- Loan refinancing and restructuring
- Acquisition and construction financing
- Commercial development loan workouts
- Commercial lease negotiation and renegotiation
- Formation of holding companies, partnerships and joint ventures
- Refinancing and recapitalization
No one wants foreclosure, including the financial institution pursuing the action. Both sides end up losing significant amounts of money. The stakes are far too high and the investments too significant to walk away.