Are Many Commercial Property Foreclosures And More Bank Failures In Store For 2010 ?

The answer is yes according to my network of contacts in the banking, business, and FDIC worlds. Commercial mortgages are often set to balloon every 5 to 7 years, and many more commercial loans will balloon in 2010. Those loans were based upon loan to value ratios that can't be sustained under today's lower appraised values. That means commercial property owners will be required to come up with substantial cash down payments to renew their loans. Many will not be able to afford to pay these down payments, and their commercial properties will go into foreclosure.

Many banks have so many of these commercial loans that will go bad in 2010 that they will be forced into receivership by the FDIC.

The burst of the commercial loan bubble may hit with full force in 2010, and therefore 2010 is likely to be a quite trying time for commercial real estate investors, developers, and bankers.

If you need help in working out a commercial loan problem or if you are a real estate investor or real estate developer the lawyers at the law firm of AttorneyBritt may be able to help.

For More Information Contact The Atlanta, Georgia Law Offices Of AttorneyBritt:

AttorneyBritt
Gary L. Britt, CPA, J.D.
1200 Abernathy Road, Suite 1700
Atlanta, Georgia 30328

404-567-6445

“Lawyer's That Mean Business”

IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

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