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Loan Workout Shutterstock

Whether a result of the coronavirus pandemic, the suddenly dislocated capital markets, the end of the lengthy commercial real estate boom, or changes in the real property or its revenue, the property owner reaches out to the lender for urgent, needed debt relief. The owner is not nefarious, malevolent or incompetent and may have merely fallen prey to market or other—COVID-19—forces outside of its control. The lender, which strives for a performing asset, an on-going relationship with its customer and repayment—not foreclosure or distress—makes concessions.

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