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.

This must be a State specific issue.

No one uses CREM's? I posted this as a Lending question and they said to post to our State forum, which we don't have. So will try Other States. Sorry.

Well, if you would at least tell us what State you are talking about, it might help - geez. Don't keep double posting this question in a bunch of forums. There is a general State forum in the State forum section for States that do not have their own forum.

We do Commercial Real Estate Mortgages (CREM) but unless you are from Minnesota, any insight I give you would be pointless as mortgages are state specific.

See the answer posted to your question in the State forums.