Mortgage problems are not exclusive to homes. They can also arise in connection to commercial properties.
As is the case for homeowners who are facing mortgage problems, when a commercial property owner is facing mortgage problems, it can be important for them to seek out advice on their options. There may be ways they could prevent the problems from ballooning into major consequences such as losing the property through foreclosure. Experienced real estate lawyers can help commercial property owners with responding to mortgage troubles.
In recent years, the commercial property market in the U.S. has been pretty strong. However, there have been indications that it might be heading into a bit of a decline. Things that could contribute to this potential falloff include low oil prices and a slowdown in the Chinese economy.
It is not expected that such a decline, if it happens, will be a particularity severe one. However, even a moderate decline in the market could lead to mortgage troubles and the potential of defaults for some commercial property owners.
Many different aspects of a local commercial real estate market and a local commercial mortgage loan market could affect how big of impacts a general decline in the commercial real estate market would have on commercial property holders with mortgages in that area. So, one wonders what effects a general falloff in the U.S. commercial real estate market would have on the occurrence of commercial mortgage troubles and commercial foreclosures here in the San Antonio area and in the rest of Texas.
Source: The Wall Street Journal, “Now Coming to the Commercial-Property Market: Defaults,” Eliot Brown, March 8, 2016