Commercial properties come in many shapes and sizes. A large, downtown building is as commercial as, say, your nearest gas station. The respective sizes of the loans, well, that’s different. But in both cases, the properties can lose their value and become candidates for a loan modification.
Basically, if the use of the establishment is commercial in nature, it could be eligible for loan restructuring. Consider that any of the following qualify:
- Strip malls
- Shopping centers
- Warehouses
- Industrial complexes
- Office buildings
- Business parks
- Health care facilities
- Hotels, motels and resorts
- Apartment complexes
- Condominiums
- Restaurants
- Gas stations
- Entertainment facilities
Even if you don’t see your property type listed doesn’t mean it isn’t eligible. There are just too many to mention.
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