Should You Negotiate with the Borrower or Initiate Commercial Foreclosure Proceedings?

Deciding to foreclose on a commercial mortgage borrower who has otherwise been a diligent and performing tenant is a difficult decision for an asset manager, loan officer, or private lender. Dealing with a non-performing property will have already put you in a tough position. The question remains: What now? Prolonging a foreclosure action when it is clear that your borrower cannot pay will only continue the trend of Read More

How Assignment of Rents Works in Florida

When an Asset Manager, Loan Portfolio Manager, Private Lender, or Investor lends money to someone else who is hoping to profit from a real estate property, they should find secure ways to help protect their investment. When you are putting your own livelihood on the line to fund a borrower, you want to make sure that your investment is protected. These last two years have taught us that all too well. In Florida, one Read More

Getting a Deficiency Judgment After a Commercial Foreclosure

If you are a Real Estate Asset Manager or Loan Portfolio Manager, you know how complicated it can be to get your non-performing properties through the foreclosure process and to an auction. Sometimes, however, the auction sale does not produce enough funds to pay your debt on the property. If the property is located in Florida, you then have the right to obtain a Deficiency Judgment or have one issued by the Court. A Read More

How Far Should a Lawyer Push an Issue?

Last month, we wrote about the connection between a good attorney and a Judge. In the article, we explained how effective lawyers learn how specific Judges prefer to run their courtrooms after appearing before them enough times. Here’s a particularly relevant selection about the topic: “A lawyer’s experience before a specific Judge is invaluable to a client in getting a positive resolution. Some Judges are quick to Read More

A Good Lawyer Knows the Law, A Great Lawyer Knows the Judge

Every month at the Reyes Law Group, we seek to provide information that is valuable and helpful to our clients. This month, we are looking at the public perception of how lawyers operate. We are shedding some light on a seemingly small fact that helps separate a good lawyer from a great, successful lawyer - the kind of lawyer you should work with. Clients are aware that lawyers interact with each other during the Read More

Motions for Summary Judgment: How Florida’s Big New Change Affects You

On May 1st, 2021, Florida signed into law some major changes regarding their approach to Motions for Summary Judgment. These changes mean Florida now follows the standard used in federal practice (again, previously not the case for Florida). These changes are significant, and signal good news for Asset Managers, Loan Portfolio Managers, Private Lenders and Investors with Florida properties in their portfolios. The Read More

More on the Guarantor! Hedging the Risk: The Guarantor – Only If Handled Correctly!

The pandemic create many winners and losers, which means, millions of credit facilities, debtors, and borrowers remain on the brink. Scratch the surface, and you realize that forbearances have delayed what appears to be inevitable.  Despite the trillions in government help, the fundamentals don’t change.  Lenders have for eons collateralized loans with tangible, value-sustaining real estate as a way of hedging their Read More

The Importance of the Guarantor to Asset Managers and Loan Portfolio Managers

It is typical today that a borrower may need a guarantor in order to get approved for a real estate loan or purchase. The role of the guarantor is to ensure the borrower will be able to pay for the real estate by putting their own credit on the line. If a borrower’s income or credit score is too low to be approved for a real estate loan, they can try to secure a guarantor with stronger credit than them. This applies Read More

Motion to Sequester Rents: A Great Early Legal Maneuver

If you are an Asset Manager, Loan Portfolio Manager, Private Lender, or Investor with a non-performing property, this is how the story normally goes. You endure months of requests, conversations, strained negotiations, and forbearances. When you find yourself pleading or insisting with your borrower in order to see any sort of return on your investment, you realize that this tactic of financial loss is not an Read More

Florida’s Statutory Rate on Final Judgments and Their Impact on ROI for Asset and Loan Portfolio Managers

When a Final Judgment is entered, it typically reflects a financial equation consisting of the principal, delinquent interest, late charges, legal fees, court costs, and…the additional interest due a lender to get them up to the default rate they are entitled to. In Florida, on most commercial loans, that default rate is 18%. However, when a Final Judgment is entered in Florida, lenders are only entitled to collect Read More