Kane County Real Estate Workout Lawyers
St. Charles Attorneys Assisting in Commercial and Residential Workouts
In this volatile real estate market, many borrowers and lenders find themselves holding properties worth substantially less than what they paid for it. When this happens, many of these lenders, developers, and builders turn to the law firm of Bochte, Kuzniar & Navigato, P.C.. Our Illinois attorneys have assisted a wide array of clients with troubled properties for over 40 years.
Our attorneys are well renowned in the fields of restructuring and bankruptcy, financial services, construction, corporate, mergers and acquisitions, litigation, and taxation. We understand the challenges faced by borrowers and lenders in today’s economic conditions and are committed to providing the in depth experience and knowledge necessary to help our clients meet their business objectives.
A loan workout is a plan to restructure debt in the face of foreclosure. It is also known as a loan modification or mortgage modification. The lender and borrower must mutually agree to the terms of the workout. Generally, discussions begin with a look at why the homeowner has been unable to pay the loan, and whether he or she could continue to pay if the loan is modified. The lender will consider the total amount still owed, the homeowner’s hardship, the equity in the property, and whether foreclosure would the better option.
At Bochte, Kuzniar & Navigato, P.C., we assist homeowners, commercial property owners, and lenders through the real estate workout process, ensuring the interests of our clients are fully protected and assisting in the overall success of the transaction.
Attorneys Providing a Practical Perspective and Industry Experience
Our lawyers assist lenders, borrowers, franchisors, landlords, and similar clients in a variety of business and transactional matters. Our practical experience helps us understand the motivation and needs of our clients who are seeking creative ways to restructure their relationships.
The attorneys at Bochte, Kuzniar & Navigato, P.C. understand the harsh realities of today’s real estate market that has left far too many individuals stuck with property they cannot sell or is worth far less than what they originally paid. Recognizing this tragic reality, we will assist you through the complex process of a workout or other restructuring. To schedule a consultation with one our lawyers, contact us today online or call us at 630-377-7770. Our law firm offers legal services to clients in the Fox Valley area, as well as St. Charles, Geneva, Elgin, Batavia, Aurora, Wheaton, Kane County, DuPage County, Kendall County, and DeKalb County.