Since 1977, Ocean Pacific Capital has specialized in commercial mortgages. Whether our clients are considering commercial mortgage acquisition loan or commercial mortgage refinance of an existing loan, we offer many financing options. A commercial mortgage is a loan that is secured by real estate as collateral in case the borrower defaults on the loan. Similar to a residential mortgage, collateral for a commercial mortgage is a commercial building or business real estate, rather than a residential property. Therefore, a commercial mortgage acquisition and refinance differs from a residential mortgage acquisition and refinance in the type of property utilized as collateral. Also, a commercial mortgage refinance is typically taken on by businesses rather than individuals. However, the individuals may be a part of a partnership, incorporated business, or a limited company; therefore a business' credit is assessed more heavily than in a residential refinance. While most commercial mortgages are non recourse, meaning that if the borrower defaults on the monthly mortgage payments, the lender or creditor may seize the property listed as collateral, regardless of its value. Thus, the borrower is not responsible for the difference if the mortgaged property does not complete the remaining balance of the loan. For more information on obtaining a commercial mortgage refinance, contact our commercial mortgage refinance specialist today!
your financing needs,
we will tailor a loan that's right for you.
Daily Oil & Gas and Wall Street Journal News
America's Make-or-Break Week Rent, utilities, credit card payments, payroll: The bills are now coming due for big companies, small businesses and millions of laid-off workers. How Americans navigate the next few days will shape how the coronavirus pandemic impacts the economy.
Hidden Chinese Lending Puts Emerging-Market Economies at Risk China has lent roughly $200 billion to emerging-markets economies in recent years. Most of that hasn?t shown up in official data, allowing countries to borrow from other investors. Now borrowers are at risk of drowning in debt and investors are facing the reality that China may be ahead of them in collecting.
Charles Elfsten, President
Charles A. Elfsten