Interesting article here about strategies that owners are using to restructure existing loans: "What we are finding now is that--because on CMBS loans the companies cannot get any response from the master servicer--the only way of trying to renegotiate is to default because only a special servicer can modify the loan."
So, in order to get a lender's attention in order to restructure a loan that's now badly under water, maybe the borrower has to consider defaulting?
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