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Last September, the IRS updated Rev. Proc. 2009-45 which allows for a more proactive approach to obtain a commercial loan modification.

The IRS realizes that owners of commercial real estate will have a harder time refinancing when their loan reaches maturity date. Due to the current tightening of credit, many borrowers in the next two years or so will not be able to refinance. Even if owners have the income stream, they still run …

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  3207 Washington Ave