If you thought residential Portland real estate was complicated, commercial Portland real estate also has it share of issues in the current market. Locally, I have received numerous phone calls this month about commercial property defaults and the tax implications involved. The article below outlines some very positive news from the government, who is trying to slow down the steam roller that is headed towards businesses in a hurry. The government will now make it easier for commercial real estate loans to be modified and also keep their tax status. The question is of course, will the Big Bad Wolves, aka the Banks, work with the borrower?
http://online.wsj.com/article/BT-CO-20090915-709931.html
Friday, September 18, 2009
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