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    • 03/23/2020

      Bridging the Gap

      Client Alert

      Written by: Ozge Otarsi-McCue

      In light of COVID-19’s impact on the state, national and global markets and its expected reach into the economic standing of individuals and businesses, lending institutions may find a significant increase in borrower requests for deferments and modification and/or forbearance agreements in connection with existing residential or commercial loans. Hill Wallack LLP maintains extensive experience in these areas on behalf of a multitude of lending institutions and is prepared to immediately assist our clients with the preparation and finalization of these agreements, in addition to providing personal and detailed guidance in each of these transactions. If you are a lending institution in need of assistance with deferments and modification and/or forbearance agreements, or require any guidance in general during these times, please do not hesitate to contact us to immediately address your needs.

      1. Is it an increase in interest rate?

      2. Are you extending new money?

      3. Is there a guaranty involved?

      4. Is the loan in New Jersey or another State?

      5. Are there other lienholders?

      6. Is the borrower in default?

      7. Is there a Participation Agreement?

      8. What is the collateral?

      New Jersey Contacts: Pennsylvania Contacts:
      Michael Kahme, Esq. Francis J. Sullivan, Esq.
      Paul N. Watter, Esq. Michael J. Shavel, Esq.
      Nicole Perdoni-Byrne, Esq. Timothy J. Duffy,  Esq.
      Kenneth R. Sauter, Esq.
      Ozge Otarsi-McCue, Esq.

      ©2020 Hill Wallack LLP. All rights reserved. Please contact Hill Wallack for permission to reprint. Notice: The purpose of this Client Alert is to identify select developments that may be of interest to readers. The information contained herein is abridged and summarized from various sources, accuracy and completeness of which cannot be assured. This Client Alert should not be construed as legal advice or opinion, and is not a substitute for the advice of counsel.