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#2280657 - 02/04/23 09:02 PM short term loan to protect lien
liventhedream Offline
100 Club
Joined: Mar 2006
Posts: 193
Would flood apply to a short-term increase to the loan amount to protect the banks interest in collateral while the loan is in workout? Bank does not own the property; they are just advancing additional funds to protect their lien on the property?

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Flood Compliance
#2280659 - 02/05/23 01:35 AM Re: short term loan to protect lien liventhedream
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,350
Galveston, TX
Yes. An increase in the loan amount is a trigger..
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