Borrower in Default, Now What?

When a borrower defaults, one of the mortgage lender’s remedies is to acquire the subject property, referred to as real estate owned property (REO property). Read this practice note to learn how a mortgage lender acquires commercial REO property as part of a foreclosure or settlement.

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Related Content

• Commercial Real Estate Loan Defaults and Remedies
  Read this discussion of borrower default and lender remedy provisions in commercial real estate financing documentation.

• Workouts of Commercial Real Estate Loans
  Consult this practice note for guidance on the workout process where the lender and the borrower negotiate a solution to a defaulted or otherwise distressed commercial real estate mortgage loan.

• Foreclosure of Real Property
  See this practice note on commercial and residential real property foreclosures and how they vary substantially from state to state.

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