Assuming a commercial real estate loan in 2010

We see a continuation of the strict guild lines for underwritten commercial loans bleed into the Commercial Loan assumption process. The plus is that the loans that were done from 2001 to 2006 were probably better than the loans you can get in 2009-2010 but,… the banks know that too and they would rather have that loan paid off so they can have new fresh loan funds to lend than to replace the existing borrower with another one of less quality. In short if you are looking to do a loan assumption in 2010 your chances are slim if your financials don’t equal the existing borrowers. That is in addition to the increased underwriting requirements.