Ok, third question and I've liked all the answers so far! We have a commercial loan on multifamily property, the purpose is improvements to the property and cash flow, it is a revolving line of credit...is this reportable?
#483247 - 01/14/0607:14 PMRe: Commercial multi purpose
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Depends on whether you report your open-ended lines (since this is optional). If you don't, then no. If you do, then yes assuming the line will be secured by the multifamily property that you mentioned.
#483248 - 01/16/0603:51 PMRe: Commercial multi purpose
hmdagal
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Quote: Depends on whether you report your open-ended lines (since this is optional). If you don't, then no. If you do, then yes assuming the line will be secured by the multifamily property that you mentioned.
...or the line is classifed by your institution as home improvement.
We have a commercial loan on multifamily property, the purpose is improvements to the property and cash flow, it is a revolving line of credit...is this reportable?
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