Post on 07-Aug-2015
transcript
© Western America Commercial LLC. 2009. All Rights Reserved. The information herein is subject to change without notice.
Polling ResultsOctober 26, 2009
© Western America Commercial LLC. 2009. All Rights Reserved. The information herein is subject to change without notice.
Options Considered
• Bite the bullet• Accept the lender’s modification terms• Seek alternative modification
– Refuse fees, costs– Refuse interest deferral– If unsuccessful, allow foreclosure
• Allow the property to foreclose
© Western America Commercial LLC. 2009. All Rights Reserved. The information herein is subject to change without notice.
Options Considered
• Bite the bullet (5 Co-Owners)
• Accept the lender’s modification terms (2 Co-Owners)
• Seek alternative modification (4 Co-Owners)
– Refuse fees, costs– Refuse interest deferral– If unsuccessful, allow foreclosure
• Allow the property to foreclose (2 Co-Owners)
• 2 did not vote. 1 voted twice, first and last options
© Western America Commercial LLC. 2009. All Rights Reserved. The information herein is subject to change without notice.
No clear consensus
© Western America Commercial LLC. 2009. All Rights Reserved. The information herein is subject to change without notice.
WAC’s Evaluation of Co-Owner Intent
• more favorable terms• willing to risk losing the property• not ready to lose it now