An agreement between a lender and a delinquent borrower to either bring a loan back on track or resolve the delinquency in some other way. Workouts often include extensions of the payback period to lower monthly payments and other adjustments to the loan terms.
Filed under Funding
Related terms
Have a deal that needs funding?
Brokers send a deal to Think, get an indicative term sheet from the borrower’s numbers, and move to a lender when the packet is complete.
See Think Premier LOS