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#1708137 - 06/07/12 06:52 PM Signing a Loan Modification/Renewal
mstark Offline
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Joined: Mar 2006
Posts: 336
We have 4 borrowers/customers that have signed the note. If we reduce the rate by using a loan modification must ALL borrowers/customers sign the modification agreement? I am in KY.


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#1709027 - 06/11/12 06:36 PM Re: Signing a Loan Modification/Renewal mstark
Tesla Offline
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Joined: Nov 2003
Posts: 3,724
I think so- if they are all obligated on the note. Just my opinion though.
It's not that I take life for granted. It's only that the good won't make it. Innocence dies, while Villany Thrives.

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#1709173 - 06/12/12 12:05 PM Re: Signing a Loan Modification/Renewal mstark
bgehres Offline
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Joined: Mar 2005
Posts: 126
I would think it depends on your documents. Our note specifically says that only one of the original signers has to sign any modification, extension, etc.

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