Posted on: 24th Jun, 2010 01:17 am
I have an apartment complex which is cash flowing now after 5 months of deligent leasing and rent collection. However Lender has filed for foreclosure as we have missed mortgage payments. Can we file Chapter 11 and get another loan from another lender to pay off current Lender. We are cash flowing now. OR do you have a Lender that will give us mortgage loan at reasonable rate to pay off current Lender? This way we avoid filing Chapter 11 and keep the property.