Banks, capital lending firms and private lenders often have contingency plans in place when they start to see borrowers falling behind on payments. After all, unlike home loans, these commercial loans can often be five to six figures per month, and significant delinquencies can add up fast. These lenders’ attorneys begin a legal process once they have a borrower who has defaulted. What many don’t know is that the lawyers have a go-to resource – a partner to assist with the commercial foreclosure process. Total Lender Solutions is such a partner, and for nearly 20 years, we’ve assisted hard money lenders, private capital firms and banks to get their delinquent loans working again. Here are a few reasons why attorneys seek foreclosure firms for hard money loan default.
What Attorneys Get With Foreclosure Firms
Perhaps the biggest reason attorneys call foreclosure firms like Total Lender Solutions is to handle the time-consuming and non-legal foreclosure responsibilities. Even contacting the borrower can be an arduous task, and an attorney’s time is not best utilized to chase these borrowers down. When they partner with a foreclosure firm, they have a partner who understands the process of getting the payments back on track or taking the necessary steps to foreclose.
Why Attorneys Trust Total Lender Solutions
Total Lender Solutions is the ultimate asset for attorneys and the hard money lenders they represent. Why? Because Total Lender Solutions is founded and led by attorney Randy Newman. The attorneys have confidence in comfortability in a partner who knows the legal process but isn’t a practicing attorney.
The benefits include streamlined and simplified communication with a partner who gets what needs to happen in accordance with the law.
“We are a support system for our attorney partners, and that’s the essence of our trusted relationship. We are by their side to serve their needs,” says Randy Newman, founder of Total Lender Solutions.
When Attorneys Should Call About a Hard Money Loan Default
If you find yourself facing a defaulted hard money loan, turn to an experienced professional like Total Lender Solutions to guide you.
No matter what loan or entity you represent, the team at TLS will drive your borrower back into action to get those payments going again. More importantly, they will do so, ensuring the process is completed in a timely manner and in full compliance with local and national laws.
Foreclosing on your commercial space can be overwhelming, but hiring an expert like Total Lender Solutions can make all the difference for your client. If you currently represent a hard money lender dealing with commercial foreclosure, let’s partner on a customized Foreclosure Action Plan.
