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!
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Wall Street Journal
Commercial News
10/28/20
WSJ.com: US Business
U.S. Car Business Vrooms Back From Pandemic Nadir The U.S. auto industry, hobbled this spring by the Covid-19 crisis, has bounced back stronger and faster than many expected with some companies reporting record profits in the third quarter.
Tiffany, LVMH Near Agreement on New Deal Terms The luxury-goods companies have come to a preliminary agreement on new deal terms that would call for LVMH to pay $131.50 for the iconic U.S. jewelry maker, down from a prior agreement of $135 a share.
Boeing Cutting More Jobs in Response to Pandemic The aerospace giant is reviewing jet production levels and expects to reduce its headcount by another 11,000 in an effort to stop bleeding cash as the coronavirus pandemic roils global air travel.
Gilead Quarterly Revenue Rises on Remdesivir Sales Gilead Sciences? revenue rose 17%, helped by sales of its antiviral drug Remdesivir that has become a standard treatment for hospitalized Covid-19 patients.
Tech CEOs Square Off With Senators Over Online Speech A Senate hearing in which lawmakers tangled with leaders of the largest social-media companies reflected deep discontent with their power to shape political discourse?and equally deep divisions over how to address it.
Tariffs Didn't Fuel Revival for American Steel President Trump?s 25% duties haven?t yielded the steelmaking renaissance that he promised during his 2016 campaign. The industry's early job gains evaporated as steel demand and prices sank.
