I thought this article by Samantha Higgins on legalreader.com was quite informative for borrowers: How Best to Prepare When Facing a Foreclosure. Although the piece is designed for residential/consumer foreclosures, many of the tips identified by Higgins apply with equal vigor to commercial borrowers and guarantors. Engage, seek advice, and follow-up.
I represent parties in loan-related litigation. If you need assistance with such a matter, please call me at 317-639-6151 or email me at [email protected]. Also, don’t forget that you can follow me on Twitter @JohnDWaller or on LinkedIn, or you can subscribe to posts via RSS or email as noted on my home page.