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Changing Collateral on a Loan

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Question: 
We have a borrower who needs to change the collateral on his loan. What documents can we use? If we use a modification/change in terms, do we need a new security agreement?
Answer: 

The specifics of the documentation needed to modify a given loan can only be provided to you by competent legal counsel. There are too many variables to attempt to address this in a general manner.

First published on BankersOnline.com 7/05/10

First published on 07/05/2010

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