Business owners say lenders take hard line as foreclosures rise on commercial properties

Las Vegas business partners Michael Smoody and Bernie Chippoletti haven’t found much compassion from Bank of America in their effort to hold onto Flamingo Professional Courtyard when tenant occupancy is at an all-time low.

“We went in and met with them and they weren’t very conducive to working with us,” said Smoody, a general contractor in Las Vegas. “A few days later they sent us a default notice. We’re just in a waitinggame. We’re doing the best we can to hold on to what we’ve got and get through this” states the Las Vegas Review Journal.

Published by Stout Law Firm

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