Prior to the pandemic, we settled a commercial foreclosure action for $6,425,000.00. It was a seller-financed transaction, meaning that the buyer “borrowed” the money from the seller to purchase the property (no money was actually exchanged) and gave the seller a mortgage and signed a promissory note. No bank was involved. We never represent banks.
The buyer failed to make the first payment due under the mortgage, and LeNoir Law Firm brought a foreclosure action against the buyer. In less than two months after all payments were due under the mortgage, we recovered over $300,000.00 more than the the buyer would have paid if the buyer had not defaulted on the mortgage. The buyer even paid our client’s attorneys fees!
For more information on how the LeNoir Law Firm handles commercial foreclosures, please contact our office.
LENOIR LAW FIRM, PLLC
2585 Broadway, Suite 251
New York, NY 10025
Tel: 212-531-0284
Email: info@debtinversion.com