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#2048104 - 11/04/15 08:47 PM Credit Life and Disability
LAK Offline
Junior Member
Joined: Oct 2012
Posts: 43
We are doing a change in terms prior to maturity of a closed end consumer RE loan secured by a dwelling. We are making no changes other than extending the term.
The current loan has CL&D, can we do a change in terms keeping the CL&D? Thank you.

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Lending Compliance
#2048221 - 11/05/15 03:56 PM Re: Credit Life and Disability LAK
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,710
Bloomington, IN
Most likely you can but it is a good possibility the insurance will not be extended past the original maturity date.

You will have to review the insurance certificate issued by the insurer and your contract with that insurer to see how change in terms affects the insurance coverage.
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The opinions expressed are mine and they are not to be taken as legal advice.

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