Fast Foreclosures For Mezzanine Loans – Borrower Beware
Mezzanine loans are often the riskiest piece of the real estate capital stack. These lenders will suffer the first loss if the value of the collateral goes down. If the loan defaults, they also have the fastest enforcement tool in the foreclosure tool shed: the ability to hold a Uniform Commercial Code foreclosure sale, a process that can take 30 to 60 days.
That’s because the collateral for a…
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