What defenses does a commercial property borrower have against a notice of default?

Fighting commercial foreclosure requires extensive knowledge about foreclosure laws. If you have a business and you are in the midst of the foreclosure, the lender has to send notifications if he/she wishes to start the process of foreclosing the commercial property. The first notice is the Notice of Default. Here, the lender will clearly state the amount of outstanding balance that the property owner has incurred. The notification should also contain details on the date by which the financial obligations should be met. One defense that you can use is that there was lack of notice of default. You may state that you did not receive the notification for it to be valid. The lender has to ensure that you personally receive this notification because it is possible that the notice was mailed to the wrong address or at the wrong date. Unless, the lender is able to prove that you received it personally, you can use the defense that you did not receive it.

Another defense that you can use is that the lender did not give you sufficient time for payments to be made. All these defenses can be used to fight off the foreclosure. But if you acknowledged the receipt of the notice, you will then be sent with the second notice, which is the Notice of Acceleration. This is given if the late payments were not made. This notification will require the owner to pay the full amount by a certain date specified. If the payments are still not made, the Notice of Foreclosure is sent to inform the owner that the property sale will take place.