June 4th, 2024


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Bryan Sullivan Answers “Can A Felon Get A Commerical Real Estate Loan” In MarketWatch

In the wake of former President Donald Trump’s conviction, Bryan Sullivan spoke to MarketWatch’s Joy Wiltermuth about the question of whether or not convicted felons can obtain a commercial real estate loan. Trump’s verdict left many questioning the barriers he (and other convicted felons) will face in the real estate market, especially given that his business endeavors have largely centered around real estate.

“In any loan agreement for real estate, operating capital or credit lines, usually they take a look at the background of anyone convicted of a felony,” Bryan tells MarketWatch. “It also could be deemed a breach of an existing loan or credit agreement,” he continues.

“There are a lot of conditions in these agreements, and one usually is that if a borrower is convicted of a felony, the lender has the right to hold them in default,” he explains.

He adds that while not all lenders opt to do so, “normally, the debt and interest is accelerated and immediately due,” if the lender does decide to hold the borrower in default.

Read the full article in MarketWatch (subscription may be required)