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#2031350 - 08/03/15 05:09 PM Flood Coverage and- Cross Collateralized Loans
Love Cruising Offline
100 Club
Joined: Mar 2009
Posts: 248
If I have a line of credit for investments purposed for my company and I have it cross collateralized with a R/E loan, should I provide my renewal line of credit with a Flood Notice due to being cross collateralized with a R/E secured loan?

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Flood Compliance
#2031529 - 08/04/15 03:37 PM Re: Flood Coverage and- Cross Collateralized Loans Love Cruising
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
Yes if the property securing the loan is located in a SFHA. See 339.9.
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The opinions expressed are mine and they are not to be taken as legal advice.

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