The Ticktin Minute March 27, 2017 – Commercial Foreclosure Process

Commercial foreclosure is similar to residential foreclosure, except that the property secured by the mortgage is owned by a business or commercial enterprise. Commercial foreclosure occurs when the business owner defaults on their mortgage with the bank and the bank institutes proceedings to foreclosure on their lien against the property. The owner of the property…

Introduction to Commercial Foreclosure

Commercial properties, owned by businesses, are not sheltered from the possibility of foreclosure. Commercial foreclosure is very similar to residential foreclosure. The major difference between commercial and residential foreclosure is that the foreclosed property is owned by a business entity and therefore is not the primary residence of the mortgagee.   Foreclosure is the process…