Commercial Mortgage Refinance

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!

WSJ.com: US Business

Washington Post Considers Selling Its Tech Business
The company is exploring a spinoff or sale of Arc XP, an in-house publishing tool that it has turned into a broader software business.

Elon Musk's Release of Documents Triggers Twitter Lawyer Jim Baker's Exit
Elon Musk said a top Twitter lawyer ?was exited,? part of the fallout from the billionaire?s unusual release of internal communications to criticize prior practices at the company.

A Book on Elon Musk's Twitter Takeover Is Already in the Works
?Breaking Twitter? by Ben Mezrich, who wrote the book behind ?The Social Network,? is the latest example of quick books on current events.

TikTok Faces U.S. Clampdowns After South Dakota Restrictions
The app was banned from the state?s agencies over national-security concerns stemming from its Chinese ownership. Other states are following suit.

Apple Plans New Encryption System to Ward Off Hackers and Protect iCloud Data
?Advanced Data Protection? would offer end-to-end encryption on iCloud backups, Notes, Photos and other Apple services?a step that may draw ire from law enforcement.

What's Going On With the Housing Market?
Home buyers and sellers are trying to make sense of a downturn that?s full of contradictions: Demand has seized up but supply is still low; prices are sliding but not plummeting; and no one can agree on what comes next.

U.S., Europe Need a Grand Bargain on Semiconductors and EVs to Counter China
Allies complained U.S. electric-vehicle subsidies mistreat them, yet rebuffed requests from the U.S. to join its restrictions on chip exports to China.