ONE IN THREE DISTRESSED BORROWERS HANDING BACK BUILDINGS, EXPERTS SAY
https://media.zenfs.com/en/the_real_deal_435/7659cfa74d4c03d05dac132fafd3063b
✍️ Borrowers are increasingly handing over the keys to their distressed buildings to lenders, leaving them with a "pretty messy" clean-up job.
👉 Borrowers are offering deed-in-lieu of foreclosure to lenders, leaving lenders with potential pitfalls and liabilities 👉 Lenders are reluctant to own more buildings, especially if the property value is lower than the debt 👉 Relationships and transparency between borrowers and lenders are key during difficult times
-- #DanDuarte #SethMoldoff #SandraAdam #ThadWilson #HeatherTurner #RiazTaplin #SanFrancisco #Chico #UmpquaBank #Portland #BayArea #Oakland #business
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