Qualifying for a commercial loan workout will depend whether or not foreclosing on a commercial property will cost more than a commercial loan workout from the lender’s viewpoint. Real world dictates that the lender’s best interests over the borrower will determine if a commercial workout will be approved.5 Key Factors a Bank or Lender will Consider:1) How much equity is within the commercial real estate?
2) What is the payment history of the borrower? Always late or financial hardship contributed to delinquency?
3) What is the current financial status of borrower?
4) Will the income producing property be able to handle the newly restructured loan terms?
5) Regional or local market conditions?Commercial property owners seeking a commercial loan workout will also need to provide a business plan to the lender. The business plan must justify to the lender why a workout to modify your existing mortgage loan or make payment arrangements will fly. Lenders want solid proof in the form of actual figures within the business plan to determine if the workout is feasible.Lenders or banks have teams of attorneys working on their behalf to insure the best outcome in commercial loan workout negotiations. Likewise, commercial borrowers should consult with their legal and/or tax advisor before contemplating workouts. A borrower may also retain the services of a third-party, professional commercial workout firm with an experienced real estate attorney on staff, that has successfully negotiated many workout plans.In conclusion, a flood of workouts are expected, due to trillions of dollars worth of commercial mortgages that are resetting within the next few years. A sizeable number commercial property owners won’t be able refinance. Seeking the help of an experience commercial workout firm will help you navigate through the many hurdles to qualify for a loan workout.

Shoe Repairs And Several Other Things When I Was 7
My Dad repaired most of our shoes believe it or not, I can hardly believe it myself now. With 7 pairs of shoes always needing repairs I think he was quite clever to learn how to “Keep us in shoe Leather” to coin a phrase!

He bought several different sizes of cast iron cobbler’s “lasts”. Last, the old English “Laest” meaning footprint. Lasts were holding devices shaped like a human foot. I have no idea where he would have bought the shoe leather. Only that it was a beautiful creamy, shiny colour and the smell was lovely.

But I do remember our shoes turned upside down on and fitted into these lasts, my Dad cutting the leather around the shape of the shoe, and then hammering nails, into the leather shape. Sometimes we’d feel one or 2 of those nails poking through the insides of our shoes, but our dad always fixed it.

Hiking and Swimming Galas
Dad was a very outdoorsy type, unlike my mother, who was probably too busy indoors. She also enjoyed the peace and quiet when he took us off for the day!

Anyway, he often took us hiking in the mountains where we’d have a picnic of sandwiches and flasks of tea. And more often than not we went by steam train.

We loved poking our heads out of the window until our eyes hurt like mad from a blast of soot blowing back from the engine. But sore, bloodshot eyes never dampened our enthusiasm.

Dad was an avid swimmer and water polo player, and he used to take us to swimming galas, as they were called back then. He often took part in these galas. And again we always travelled by steam train.

Rowing Over To Ireland’s Eye
That’s what we did back then, we had to go by rowboat, the only way to get to Ireland’s eye, which is 15 minutes from mainland Howth. From there we could see Malahide, Lambay Island and Howth Head of course. These days you can take a Round Trip Cruise on a small cruise ship!

But we thoroughly enjoyed rowing and once there we couldn’t wait to climb the rocks, and have a swim. We picnicked and watched the friendly seals doing their thing and showing off.

Not to mention all kinds of birdlife including the Puffin.The Martello Tower was also interesting but a bit dangerous to attempt entering. I’m getting lost in the past as I write, and have to drag myself back to the present.

Fun Outings with The camera Club
Dad was also a very keen amateur photographer, and was a member of a camera Club. There were many Sunday photography outings and along with us came other kids of the members of the club.

And we always had great fun while the adults busied themselves taking photos of everything and anything, it seemed to us. Dad was so serious about his photography that he set up a dark room where he developed and printed his photographs.

All black and white at the time. He and his camera club entered many of their favourites in exhibitions throughout Europe. I’m quite proud to say that many cups and medals were won by Dad. They have been shared amongst all his grandchildren which I find quite special.

He liked taking portraits of us kids too, mostly when we were in a state of untidiness, usually during play. Dad always preferred the natural look of messy hair and clothes in the photos of his children.