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loan forbearance agreement

Real Estate Marketing - Foreclosures, Loan Modifications and Government Bailout Plans - Part 3 m - Real Estate Marketing - Foreclosure rates on Forbearance Agreements done with banks reaches 58% - With Michael J ...

Justice's aviation company wants $4 million helicopter lawsuit to be dismissed

CHARLESTON, W.Va. —  A company owned by Gov. Jim Justice and his family says it wanted to settle a $4 million debt by selling a helicopter, but the lender hasn’t been cooperating.

James C. Companies, Justice Aviation — and the governor personally — were sued in the Southern District of New York in September over default on a loan for the companies’ private helicopter.

A little more than $4 million is remaining on the loan. The plaintiff, Citizens Asset Finance, wants to foreclose and take back the helicopter.

In an answer filed on Friday, lawyers for Justice and his companies ask for the complaint to be dismissed. They also ask to be granted a counterclaim.

The lawyers said Justice Aviation had been trying to resolve the matter by selling the helicopter.

“In an effort to minimize potential exposure to Citizens, in 2017 JA began investigating the possibility of selling the Aircraft on the secondary market and using the proceeds to pay down its obligation to Citizens,” lawyers for Justice wrote.

Snipp Interactive Ranked Number 114 Fastest Growing Company in North America on Deloitte's 2017 Technology Fast ...

Snipp’s chief executive officer, Atul Sabharwal, said, “We are honored to have been recognized as one of the fastest growing tech companies in North America, for a second year in a row, validation of our commitment to delivering industry-leading technology and marketing solutions to our clients. This achievement is a testament to the hard work of our talented, global teams."

“The Deloitte 2017 North America Technology Fast 500™ winners underscore the impact of technological innovation and world class customer service in driving growth, in a fiercely competitive environment,” said Sandra Shirai, vice chairman, Deloitte Consulting LLP and U.S. technology, media and telecommunications leader. “These companies are on the cutting edge and are transforming the way we do business. We extend our sincere congratulations to all the winners for achieving remarkable growth while delivering new services and experiences for their customers.”

Loan Modifications vs. Forbearance Agreement?

Regarding Loan Modification and Michael G's answer. His answer was not a Permanent Loan Modification, he was describing a Forbearance Agreement.

Lender's will negotiation permanent loan modification, but you need to be careful.

Lender's will seldom if ever will negotiate a true loan modification. But they will offer a forbearance and new payment schedule, in a hardship for example. The caveat...all interest will be due at some later date or upon payoff.

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