Recent Answers to Financing Agreement Law Questions

Arthur S.

Answered Sep 3, 2024

Depending on the rate differential between your current mortgage loan and the refinancing proposal, the saving in the long term can be substantilal. In the short term, the savings in debt service payments will be off-set by the cost of the refinancing, e.g. commitment and loan fees, appraisal and other underwriting costs imposed by a new lender), mortgage title fees and atty fees (taking into account you, the borrower, customarily pays the new lender's atty costs). That said, many residential lenders limit the costs to residential borrowers of the financing costs of any such refinancing),

Arthur S.

Answered Jul 23, 2024

The answer to this question is too voluminous for this format. The governing laws, rules, regulations, etc of each foreign jurisdiction must be taken into consideration prior to entering into a "cross border" financing transaction. Every lender focuses on its exit strategy in the event a loan becomes a non-performing loan...and it is incumbent upon the borrower to fully explore and understand these "exit" strategies.. I would also emphasize the need to fully understand the scope of borrower's obligations under the underwriting scope and requirements of the lender, as well as the several types of loan guarantees that may be required by the lender in any such cross-border financings.