Bank Workout – Maximizing the Value of Residential Collateral

Mark Twain said “A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.” While the statement is humorous and may be close to what many home builders and developers think of their bankers the truth is that if the bank asks for their “umbrella” back today they are likely to get back a lot less than they hoped.