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#1619619 - 10/25/11 04:06 PM Coverage amount on Charged Down Loans
lucyc Offline
Diamond Poster
lucyc
Joined: Jul 2007
Posts: 1,074
We use third party service provider for our insurance tracking.

Should we instruct our third party service provider to use the loan balance or the charged down balance to determine the amount of coverage?

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Flood Compliance
#1619705 - 10/25/11 05:22 PM Re: Coverage amount on Charged Down Loans lucyc
lucyc Offline
Diamond Poster
lucyc
Joined: Jul 2007
Posts: 1,074
Bump

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#1619890 - 10/25/11 08:07 PM Re: Coverage amount on Charged Down Loans lucyc
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,670
Bloomington, IN
If you have not forgiven the charge down portion of the debt then it is still an outstanding balance owed and needs to be included in the coverage calculation.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1620074 - 10/26/11 01:40 PM Re: Coverage amount on Charged Down Loans Dan Persfull
lucyc Offline
Diamond Poster
lucyc
Joined: Jul 2007
Posts: 1,074
OK, Thanks

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