18-September-2009
David L. Kuosman and Peter J. Withoff
Earlier this week, the IRS issued several highly anticipated guidelines that will allow certain borrowers who are current on their commercial mortgage loan obligations to negotiate and modify their loans without triggering an adverse tax consequence to the holder of the loan. The guidance allows loan servicers to modify these loans regardless of when they mature and whether they are performing if the servicer believes there is a significant risk of future default under the loans.
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