CPR Commercial, LLC Announces Commercial Real Estate Distressed Solution Program
Don McClain announces new program designed for distressed borrowers who want to avoid foreclosure, bankruptcy or judgment.
- Houston, TX (1888PressRelease) September 18, 2011 - CPR Commercial, LLC is pleased to announce the CREDS, or Commercial Real Estate Distressed Solution program. This program is designed for distressed borrowers who desire to avoid foreclosure on the COMMERCIAL properties they own, OR who simply want out for personal reasons. According to Don McClain, President and CEO of CPR Commercial, the company will acquire the property via a short sale purchase transaction OR acquire the mortgage NOTE from the lender, offering the original owner a Right of First Refusal with a Re-purchase agreement for a period of up to 3 years to buy back the property once they are financially stable again.
This program can potentially help owners of distressed commercial properties avoid facing FORECLOSURE and DEFICIENCY JUDGMENT that may have a negative and severe impact to their credit. With the CREDS program, distressed borrowers can expect a reduction in their original principal loan balance(s) by 20% to 50%. This service also includes facilitating an EXIT conventional loan or similar exit financing via CPR Commercial's lending partners.
McClain states that "This is an excellent program for a commercial property owner seeking an alternative to walking away, being foreclosed on or getting a judgment. I am certain this will be a hugely successful program for us and our clients." The sponsor has the option of partnering with CPR Commercial or purchasing the property back at the new basis; this will help the sponsor to avoid foreclosure, deficiency judgment or bankruptcy.
CPR Commercial will consider properties across all 50 states, including any property type that has a reasonable exit strategy. Deal sizes range from small to large, beginning at $1,000,000 and going up to as much as $100,000,000. Those interested are urged to request more information at info ( @ ) cprcommercial dot com, or to visit the company website at www dot cprcommercial dot com dot
CPR Commercial, LLC is the nation's leading commercial real estate debt resolution company. By providing commercial capital solutions, CPR offers strategies for commercial property owners, developers and banks across the nation. Also working with a network of real estate professionals, CPR trains these realtors in how to assist those in the distressed commercial real estate industry. Based in Houston, Texas with offices in Los Angeles and Charlotte, CPR Commercial offers debt, equity, joint venture, property purchase and capital restructuring.
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