GERSON LAW FIRM APC is proud to have become a member of REOMAC, the largest organization in the United States devoted to provide education and other support to lenders on matters related to real estate owned assets as a result of foreclosures.
While REOMAC has traditionally served the needs of those engaged in residential REO, in March 2009, it formed a commercial committee which will focus on the needs of special servicers and assets managers with commercial REO. All economic indicators point to growing portfolios of commercial REO over the next two years.
In April 2009, GLF has assisted a lender client with a deed in lieu of foreclosure on a Sleep Inn hotel in Florida, followed by an REO purchase and sale agreement, and closing related legal representation. GLF has long served the needs of special servicers with commercial REO, including is successful disposition in the 1990s of more than 150 income producing property, including multifamily, lodging, vacant land, and other character property.