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Overview, Maximizing Loan Recovery
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Overview
Bove Company has extensive experience providing services in situations involving financially troubled real estate. Our work and relationships with acquisition funds, gives us the ability and knowledge to match up interested groups looking for specific types of distressed assets or debt. The Company’s integrated real estate services provide comprehensive interim management solutions for owners, lenders and courts.
We recognize that time is of the essence and make every effort to ensure that the transaction is handled professionally and efficiently with a strong focus on cash flow, limiting liability, and value maximization.
Given current economic challenges, many commercial real estate loans, including development loans, construction loans, and business loans are at potential risk of default. Financial institution supervisory authorities and the FDIC have acknowledged concern in the manner in which troubled assets are being handled and are looking for proactive creative problem solving to limit financial losses.
In previous times lenders were inclined to foreclose on non-performing loans. However, today it may be more advantageous to determine alternate ways to work with borrowers to see that loans are repaid. Many real estate assets are experiencing temporary or relatively minor financial problems. In those cases, a loan workout or debt restructure is a viable approach to restore loan compliance. The key is to negotiate agreeable terms that provide a win/win solution for both lender and borrower.
In the current economy, an analysis must be made to determine what action will, in fact, facilitate the most suitable route to capital recovery. Lenders need appropriate and accurate information to make proper decisions. Current, real time, property values inform making these key decisions.
Maximizing Loan Recovery
We know how to quickly develop opportunities to drive an asset’s upside potential, which leads to faster and greater recovery for our clients. We are known for solving problems and finding opportunities. We know good real estate and how to make the best use of your asset.
Our application of the right personnel, resources, and expertise to each asset and market is a critical to the process. Every property is unique in its challenges, benefits and selling points. From our network of resources, we select the best team to match each property's challenges.
By putting a team of experts in place quickly, we are able to provide insights into the real financial situation. This empowers you to make informed, intelligent decisions, to set expectations and benchmarks, and to rapidly move forward to maximize recovery.
Our turnkey approach provides single source accountability. The benefits include the following:
• Maintains control of the assets
• Quickly maximizes the operating results
• Saves money by eliminating duplication of fees
• Speeds recovery by quickly selling the assets, often during the receivership/bankruptcy period
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