http://www.biggerpockets.com/renewsblog/2009/09/24/how-to-choose-a-commercial-loan-modification-company-real-estate/ Learn, Network, Invest Sun, 12 Feb 2012 02:59:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.biggerpockets.com/renewsblog/2009/09/24/how-to-choose-a-commercial-loan-modification-company-real-estate/#comment-78477 Oliver Channing Mon, 08 Feb 2010 09:41:14 +0000 http://www.biggerpockets.com/renewsblog/?p=7226#comment-78477 As a profeesional company that has provided houndreds of forensic audits in residential as well as commercial, I would agree that one must be extremely careful in how they pay modification companies. We believe that in order for anyone to negotiate a debt-restructuring, one must create or discover sufficient leverage to accomplish such a goal. Also, once the leverage is discovered or created, one must learn how to use the leverage to achieve the ultimate goal. The forensic audit of documents and details relating to the original transaction are key to negotiating a modification of financing terms. As a profeesional company that has provided houndreds of forensic audits in residential as well as commercial, I would agree that one must be extremely careful in how they pay modification companies. We believe that in order for anyone to negotiate a debt-restructuring, one must create or discover sufficient leverage to accomplish such a goal. Also, once the leverage is discovered or created, one must learn how to use the leverage to achieve the ultimate goal. The forensic audit of documents and details relating to the original transaction are key to negotiating a modification of financing terms.

]]> http://www.biggerpockets.com/renewsblog/2009/09/24/how-to-choose-a-commercial-loan-modification-company-real-estate/#comment-76201 Justin Bartlett Sat, 12 Dec 2009 00:14:54 +0000 http://www.biggerpockets.com/renewsblog/?p=7226#comment-76201 No offense or anything, but I think that when looking for a good commercial modification company, in addition to ensuring there is a money back guarantee, also, if you have to pay a portion of the fee up front, make sure that you are paying only half of the total amount; from a business standpoint, its difficult for companies to trust borrowers to pay them after the modification is complete, however, from the borrower stand point, its very important to create financial incentive for the company to fight tooth and nail to get the modification. (Just my humble opinion) No offense or anything, but I think that when looking for a good commercial modification company, in addition to ensuring there is a money back guarantee, also, if you have to pay a portion of the fee up front, make sure that you are paying only half of the total amount; from a business standpoint, its difficult for companies to trust borrowers to pay them after the modification is complete, however, from the borrower stand point, its very important to create financial incentive for the company to fight tooth and nail to get the modification. (Just my humble opinion)

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