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Default and acceleration in a commercial mortgage will often happen just as a function of the debtor’s failure to pay the payments when due. Beyond that, sometimes the debtor will try and transfer the title to the property, or the creditor may make the determination that the debtor is no longer financially viable, or the creditor might determine that the property, the value of the collateral, has fallen such that it’s no longer well collateralized. In any of those circumstances they may declare a default. It’s important in such a situation to contact a knowledgeable attorney, so that he can assess and make sure that the bank is acting in good faith.
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