So today is the last day of November and the year is pretty much over and the struggle goes on with trying to keep the businesses alive. Yesterday I had a meeting in LA with my banker (lender). It was a meeting I was sort of dreading but it actually turned out to be somewhat of a relief. He, has a pretty good idea about what I am going through and basically told me not to stress out too much over what is going on and that I should first be concerned about my health and family. We went on to talk about other stuff like our family, the economy, and the real estate bust.
He said that people don't fully appreciate how much the world has changed in the last three months. He added that the real estate market has still not bottomed out as the banks are currently taking possession of properties and still trying to unload them at prices that are still inflated, and that lenders don't want to approve loans for them. Eventually the banks with have to unload the properties at a bigger discount, that lenders will feel comfortable with. This could take about 9 to 12 months. So if you are looking to buy perhaps you should wait until then.
More importantly I left the bank with a little relief that he understood my plight and was willing to work with me. I was very, very grateful.