Commercial Mortgage Refinance Seek Help in time and help yourself.

Bet you never thought it would happen to you. You must have been under the assumption that the economic downturn and job losses had to do with huge corporate companies and had nothing to do with your small business.

Well before long you find that your customers have started asking for extended credit, the orders in the pipelines are beginning to dry up and you cash flow has begun to get effected. You also find your suppliers demanding more from you in terms of price as well as payment terms and the input costs are rising.

It is becoming increasingly difficult to pay the salaries to the staff, pay your suppliers, and pay the banks for the building loan, the working capital loan and vehicle loans that you owe. You can see it coming with the stoppage of money coming in, there is no money left and the bank is going to freeze your account and then the mortgage payments start getting over due.

It is quite normal for people to first consider selling their home and office building on short sale and close the loan with the bank. You should instead of thinking on these lines, look out for financial consultants who are experts in restructuring and commercial loan modification.

There are consultants who understand how to redesign the financial outlay looking at your assets, liabilities as well as your business potential and keep in view the future valuation of the assets can help you redesign the entire plan. They understand how the banks look at the loan outstanding and will help you negotiate with your bankers too.

If you believe that there is no money in the market and banks are not lending money, to a certain extent it is true. Not everybody is able to see that the money is available in the market.The financial consultants know where to tap into such investor firms who would be interested in your business and help you with loan refinancing or restructuring.

There are many ways and means of dealing with your outstanding loan. While foreclosure and short sale are some of the easy options, there are many other options too. Your mortgage payments can be deferred, your loan restructured along with interest rates renegotiated for a longer term. There are options where you can make part payment towards the principle and restructure the rest of the loan outstanding.

Many banks and investment companies practice a system called DOP - which is Discounted Payoff. Under this system, the lender removes the liability off their books and makes the regulatory adjustments. In turn the borrower has to within the agreed period, obtain refinance or pay off the loan outstanding. You will now be able to borrow funds from the bank with a fresh loan and get the required working capital to get your business underway once again. However always ensure you keep your CPA informed and be guided by him to take care of the legal and tax implications while doing all this restructuring.