A commercial loan review is important for property owners who are seeking for a mortgage modification as a way to avoid foreclosure. By amending the terms of the original agreement, the bank may grant the mortgagor lower interest rates, payment mortification, reduction of the outstanding balance, and many more. This is expected to provide some breathing room for the mortgagor as this individual or company tries to cope with the economic situation.In preparation for the negotiations with the lender, the property owner usually hires a commercial loan expert to look into the mortgage documents and the current financial condition to find out if a modification is indeed possible. This commercial loan review ensures that the property owner would be able to present the side of the individual or company to the lending institution in the best way possible. Once the intent has been communicated to the bank, this financial institution will also conduct a review to pre-qualify the borrower based on his payment record, current financial situation and other factors. The findings will be used by the bank to decide whether to allow negotiations with the mortgagor.Loss mitigation experts can give advice and act as facilitators or negotiators for the borrower during the process. They will examine the original documents and see if there have been any violations committed by the lender at the time when the mortgage was originally issued. These violations of federal and local laws designed to protect the borrower’s rights may prevent the bank from implementing the provisions of the contract, including foreclosure. The lender may also be severely penalized, such as being forced to return all interests that have been paid by the borrower since the start of the mortgage. Therefore, the results of this commercial loan review could be crucial in convincing the lender and getting the best possible terms.