We just found out that a commercial real estate loan we have has a 4 year lock out .?

Jun 24, 2009 in Commercial Property Loans

We missed this in our loan papers and our broker didnt tell us about this . We only knew about the pre payment penalty of 4%. we need to sell this real estate but the loan co says it will cost us 80k in interest. Is there any way out of this?

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One comment

frankie b on June 24, 2009 at 2:12 pm

All you can do is call the lender and ask them to waive the fee.

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