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#2234044 - 04/01/20 02:59 PM Loan Extension Signature Requirement
davidm Offline
100 Club
davidm
Joined: Mar 2003
Posts: 119
Texas
If a consumer loan (non-real estate) has two borrowers, do both borrowers have to sign an extension agreement in order to extend the loan? Can the loan be extended without either borrower's signature?

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#2234080 - 04/01/20 07:16 PM Re: Loan Extension Signature Requirement davidm
Always In Training Offline
Diamond Poster
Joined: Jul 2006
Posts: 1,110
Where the Green Grass Grows
We require both. I would think any jointly and severably liable would be void if only one signs the extension.

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#2234099 - 04/01/20 08:52 PM Re: Loan Extension Signature Requirement Always In Training
davidm Offline
100 Club
davidm
Joined: Mar 2003
Posts: 119
Texas
Thank you for responding....in this challenging environment our lenders are wanting to relax some processes.

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