The Commercial Foreclosure Process.
Due to the Security Interest granted your Lender at the loan origination, your Lender has options which are impacted by the actual loan documents as well as your jurisdictional considerations.
Your Lender may have the remedy of a “judicial foreclosure”, simply by Lender’s counsel filing a law suit to obtain a court order to sell the property in question, after “Notice of Default” provisions of your loan have been honored.
Some jurisdictions allow a “non-judicial foreclosure” by following the procedures in compliance with your actual loan document or in Deed of Trust jurisdictions that a Trustee is appointed to foreclose on the property and foreclose without a court order. You will be afforded a “Notice of Foreclosure Sale”; but we think that you can soberly face this reality and craft a pre-foreclosure strategy and execute it in a timely and cost-efficient manner with the guidance and assistance of your accounting and legal team coordinating with www.ForecloseWithEase.com.