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

Pfizer Identifies Fake Covid Shots Abroad as Criminals Exploit Vaccine Demand
In Mexico, about 80 people received fraudulent doses, and in Poland authorities recovered vials containing anti-wrinkle drugs.

Snarled Supply Chain Trips Up Small Businesses
Shortages and delays in supplies are squeezing business owners. A Pennsylvania maker of packaging products even has trouble tracking down wooden pallets.

EU Plans Curbs to Artificial Intelligence, Facial Recognition
European officials want to limit police use of facial recognition and ban the use of certain kinds of AI systems, in one of the broadest efforts yet to regulate high-stakes applications of artificial intelligence.

Energy Giants Ditch Oil and Coal Assets. Smaller Rivals Want Them.
BP, Rio Tinto and others are selling the projects for financial and environmental reasons, in a possible boon for those companies that want to double down on fossil fuels.

Apple Unveils Subscription Podcasts, Latest iPad Pro
The tech giant added a paid subscription to its podcast app that heightens its competition with Spotify, along with other new products including an updated high-end iPad.

The Job Market Is Tighter Than You Think
Solid wage growth and unfilled openings point to much less slack than after the previous recession.

Strained IRS is Key to Biden's Agenda
The administration is seeking more money for enforcement and other tasks. Fixes are needed for the problem-plagued system, which allows hundreds of billions of dollars in owed taxes to go uncollected each year.