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ARTICLES Private Money Financing on Owner Occupied Family Residences: The need for the easy money loan will not be derailed with the demise of the sub prime market. Instead, real estate brokers and their clients, may find themselves turning the clock back at the platform of "creative financing" techniques. MORE Seller Carried-Back Financing: An Alternative Green For Commercial Real Estate Finance: While most industries have gone green in 2007, commercial lenders have less and less green to loan in the aftermath of the subprime meltdown on Wall Street. MORE Receiverships and Controlonomics: This article will summarize the benefits of the receiver to a lender, the role of a receiver, how a receiver is appointed, how a receivership operates, and key issues of concern with respect to receiverships. MORE Prejudgment Writs of Attachment and C&C: Aggressive counsel for creditors, whether institutional or non-institutional lenders, or others who are owed money, will successfully resolve collection problems, by a well conceived command and conquer strategy. In some instances, this will mean a quick judicial strike with shock and awe force against a borrower or debtor, by obtaining a prejudgment writ of attachment. MORE California Foreclosures: This article examines the mechanics of foreclosure of real property located in California which is pledged as collateral pursuant to a deed of trust and pursuant to the terms of a promissory note governed by California law. MORE The Foreclosure Consultant at Your Door: The residential homeowner in default of a loan secured by its residence too often is preyed upon as a terminally ill patient in need of a miracle cure. MORE Private Money Financing on Owner Occupied Family Residences: The need for the easy money loan will not be derailed with the demise of the sub prime market. MORE A New Commerical Lenders' Bill of Rights Under the Bankruptcy Abuse Prevention and Consumer Protection: While never a front page story, for almost the past ten (10) years, newspapers have reported Congress' inability to enact bankruptcy reform legislation. This year Congress delivered. MORE Predispute Waiver of Jury Trials Unenforceable Under California Law: On August 4, 2005, the California Supreme Court declared that predispute waivers of the right to a jury trial are unenforceable in contracts governed by California law. MORE ADA Lawsuits: How to Defend: Does your property or business comply with the Americans with Disabilities Act? Many people have heard of the Americans with Disabilities Act ("ADA") but few are aware of the potential trap that the ADA can be for property owners, business owners and tenants. MORE Zoning Letters vs. Zoning Endorsements: Lender's closing checklists sometimes include the requirement of a zoning letter or a zoning endorsement, and sometimes both. Different lenders have different policies relating to these requirements. A CMBS lender or major life insurance company will usually require both... MORE Hard Money Lending Strategies: Only one type loan transcends every time period in recorded history, every region of the world, and every economic cycle: The "hard money" loan. The non-institutional hard money commercial lending market has once again reincarnated itself. In some respects today's private hard money loans remain remarkably similar to... MORE Open Letter to Lender's Counsel: To My Fellow Lender Lawyers: I close loans for lenders. Like you, I close lots of loans. Though I write this letter during the dog days of August, I look back a few weeks ago at the role reversal I was in as borrower's counsel. One well respected lawyer in my home city, on the eve of leaving on vacation, asked that I assist one of his sophisticated corporate clients as borrower's counsel for an $8,000,000.00 loan closing. That same week... MORE Seven Habits of Highly Effective Loan Closing Professionals: Excellence in commercial loan closings should be a matter of habit. Steven R. Covey first published in 1989, his national best seller, The Seven Habits of Highly Effective People, and followed with a number of other similarly themed resources for business professionals as well as families, "empowering" them with lessons for success. The words and principals enunciated by Covey belong in the everyday vocabulary and thought... MORE Opinion Letters For Loan Closings: Delayed loan closings, swollen legal fees. Why? The opinion letter of borrower's counsel often times has the effect of either delaying a loan closing or increasing legal fees of both borrower's counsel and lender's counsel -- both whose fees must be swallowed by the borrower... MORE Commercial Lenders Mandated To Fight War On Terrorism: It has not been business as usual in the lending industry since September 11, and commercial lenders have been conscripted to help fight the war against terrorism. For many years the United States Department of Treasury has maintained lists of people involved in drug related or money laundering activities. The United States historically has implemented laws, regulations and policies which require companies... MORE Bankruptcy Primer: Revisiting how to Foreclose on Real Property Following a Bankruptcy: You work for a lender that has a delinquent loan secured by a mortgage or deed of trust against real property. Your borrower is now in bankruptcy. You want to foreclose, but you are automatically stayed by the bankruptcy filing. You were either in college during the tumultuous early 90's, when bankruptcy filings were rampant, or you are now suffering a senior moment-type memory lapse. What do you do?... MORE Fear and Loathing California Law: Non-Recourse Carve-Outs on California Loans: Some think California law relating to the "one-action rule" and obtaining deficiency judgments against borrowers and guarantors is like pornography. The reverse is the case. We know pornography when we see it, but that is rarely the case with California's one-action rule and law relating to deficiency judgments. Too often even seasoned loan closing professionals across the country do not know or fully understand issues relating to deficiency judgments in California... MORE Loan Closings and the Unauthorized Practice Of Law: Closing loans in California has always presented a challenge to national lenders. Confounding non-California lenders and their out-of-state counsel are California's One-Action Rule. There are also territorial issues ranging from slip and slide (i.e., rain induced mudslides of hills and slopes, and resulting damage (as well as bake 'n shake, i.e., fire and earthquakes))... MORE Lender's Choice Of Foreclosure Law: National lenders love California sunshine and real estate, but hate its laws relating to foreclosures and enforcement of deficiencies. Deficiency judgments have seldom been allowed out west. But now comes a case by a California court that allows a lender to enforce a non-California choice-of-law provision allowing the lender to seek a deficiency judgment following foreclosure sale of commercial property in California... MORE When A Guarantor Isn't: A California native is a strange species, and the laws relating to guaranties in California are equally odd. Out of state lenders on conduit loans, as a general rule, seek to obtain a guarantee of payment or a guarantee of certain non-recourse "carve-outs". Often a condition of loan closing is that these guarantees be signed by general partners of limited partnerships, general partners of general partnerships, managing members or managers of limited liability companies, and trustees of revocable trusts. Enforcement of the guarantees in each of these situations may be doubtful... MORE Special-Purpose Bankrupcy-Remote Entities: Requiring that a borrower be a special-purpose bankruptcy-remote entity is a prominent requirement for loans which are being made as part of portfolios for commercial mortgage-backed securities (CMBS). As stated by Standard & Poor’s: How to Rate Lawyers: "THE FIRST THING WE DO, LET’S KILL ALL THE LAWYERS" -- WILLIAM SHAKESPEARE Letters of Credit: Across our nation's landscape are emerging capitols for high technology, biotechnology, and dot-com economies. |
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