Guarantor Waivers And Good Faith

Law360, New York (August 14, 2012, 12:02 PM EDT) -- Due to the devastating impact of the economic recession on commercial real estate, personal guaranties are in the spotlight now more than ever.


The issuance of commercial real estate loans peaked in 2007, when property values were at historic highs and lenders were underwriting the most aggressive loans. Commercial loans (other than short-term loans) typically require balloon payments at the end of a five- to seven-year maturity period, which means that many of the 2007 loans are now coming due. With values down significantly since the market's peak five...
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