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BankersOnline.com Forums State-Specific Compliance Issues Florida Future Advances
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#1092419 - 12/05/08 03:08 PM Future Advances
lucyc Offline
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lucyc
Joined: Jul 2007
Posts: 1,074
Is there any federal regulation or state law that would prevent a lender from extending more funds (future advance) in excess of double the amount of the original loan?

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#1092609 - 12/05/08 04:55 PM Re: Future Advances lucyc
lucyc Offline
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lucyc
Joined: Jul 2007
Posts: 1,074
Bump

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#1092756 - 12/05/08 06:41 PM Re: Future Advances lucyc
waldensouth Offline
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waldensouth
Joined: Nov 2001
Posts: 7,984
FINALLY ABOVE the gnat line
I believe that will be fine so long as you have a future advance clause in the mortgage. However, you may need to check with counsel on this one. I don't know of any law.
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