We have a Collateral Real Estate Mortgage securing a loan for purchased land. The note matures in 2032 and is not a loan they can advance on. I know a CREM is suppose to be extended every 5 years, but what happens if it is not extended? The court house definetly doesn't know and the lawyer THINKS we would be OK if we still extended the mortgage. Was wondering if anyone has come across this before.
I need a Mortgage book for Dummies.

I know a CREM is suppose to be extended every 5 years

There is no such requirement in IN therefore this has to be a state specific issue. You might get a more pertinent response if you re-post this in your state's forum.

Our state doesn't have a state forum. Thought maybe this was a lending question. Sorry.

If there is not a forum for your state then this would be the proper place to post, or in the "Other States" forum.

I was just trying to let you know you would most likely get a better response if the question was in the state's specific forum instead of the general lending forum.

So - telling us your State might help.

Sorry for all the confusion. I did post in Other States forum.
This is for South Dakota.

See the answer posted there.