When payments from a borrower are late, the mortgage holder takes notice and begins to consider its remedies. The borrower, however, typically doesn't retain counsel until an acceleration letter is received, or until a summons in a mortgage foreclosure action is received. This article will demonstrate how Benjamin Franklin's adage about an "ounce of prevention" applies to the reinstatement of an accelerated commercial mortgage loan.
Reinstatement of Accelerated Commercial Mortgage Loans
New Jersey Law Journal
March 14, 2013
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