Enforcement, Workouts & Foreclosures

When you face a potential mortgage loan enforcement, workout or foreclosure matter, you don’t want to waste time finding various local counsel with just the specific experience for each individual issue. You want a legal team that can handle any type of real estate finance issue and simplify and secure your business. The real estate workout and foreclosure team at Alston & Bird operates in a geographical footprint that crosses the United States from coast to coast.

We offer a full range of services in the enforcement, workout and foreclosure of delinquent mortgage loans. We represent financial institutions such as insurance companies and banks, pension fund advisors, REITs and other sophisticated investors in all aspects of distressed debt, including workouts, restructures, forbearances, discounted payoffs, loan reinstatements, note sales, foreclosures (judicial and non-judicial), receiverships, deeds in lieu, REO sales, servicing disputes and mortgage-related litigation. We work closely with the firm’s bankruptcy and litigation lawyers on your most complex issues.

Our real estate finance professionals organize a team of colleagues to advise on any issue you encounter. We work seamlessly with lawyers focused on tax, construction law, bankruptcy, land use, derivatives and litigation to provide solid, comprehensive advice.

We also know problem loans require practical and efficient solutions and we have the experience to bring that focus to the table. Our distressed debt professionals have helped clients going back more than 25 years including both the Great Recession and the prior real estate downturn of the early 1990s. Our experience spans all property types, including office, retail, industrial, multifamily, hospitality, senior living and land developments. We are familiar with all kinds of debt structures, including traditional portfolio loans, CMBS mortgages, syndicated loans, construction loans, participations, B notes and mezzanine loans.

• Represent an institutional lender for mortgage loan special servicing matters nationwide handling numerous workouts, restructures, foreclosures and bankruptcies.
• Represent a national bank for mortgage special asset matters on a regional basis handling numerous workouts, restructures, foreclosures and bankruptcies.
• Represent a regional bank in workouts, foreclosures, deficiency judgments and bankruptcies for a portfolio of small to midsize commercial mortgage loans originated by the bank and other banks acquired by the bank.
• Represented an institutional lender in the negotiated payoff of the loan via a plan of reorganization involving a 363 bankruptcy auction sale of a golf club membership resort involving multiple creditors and other interest holders.
• Represented a regional developer in the restructure of a construction/mini permanent loan upon completion of a large, central business district mixed-used project where an end user defaulted on a purchase agreement.
• Represented an institutional lender in the commencement of judicial foreclosure and the ultimate workout and restructure of a mortgage loan on a large, resort condominium project.
• Over a period of three years, represented an institutional lender in the negotiation of a workout, followed by commencement of foreclosure and receivership, and finally, a consensual sale with loan assumption/modification of a group of affiliated mortgages in excess of $100 million secured by nine properties in several states.