Foreclosures and Commercial Loan Workouts

 

The attorneys of MGM work with national, community and individual lenders in both innovative and traditional ways to resolve the issues surrounding troubled loans.  We strive to make this process as efficient and trouble free as possible so our clients can put their assets back to work in the market.  

At MGM, our attorneys work with each of our lenders to develop strategies to best protect the lender’s assets and its security property, including renegotiation of loan documentation and terms, forbearance, and foreclosure.  Additionally, MGM works to assure our client’s compliance with all legal requirements and that all possible means of recovery are pursued in a timely and cost effective manner.  Our clients have a wide array of collateral securing their loans ranging from tracts of undeveloped land, buildable lots, single and multi-family housing, commercial buildings and various types of personal property assets including equipment, inventory and fixtures.  Whether the case in question requires the negotiation and drafting of a loan forbearance agreement or the foreclosure and auction of real and/or personal property, MGM works to secure these assets as quickly as possible.   After the collateral has been levied upon, MGM can also assist our clients in pursuing deficiency suits against the deficient borrowers and guarantors.

If you are in need of assistance with a loan in default, contact the attorneys of MGM Law to help you through these issues.

Attorneys:

Rick Lawrence

Joe Perini

Additional Resources:

Virginia Tackled Foreclosure Problems First

New Protections for Tenants Residing in Foreclosed Homes