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Commercial Loan Modifications

Answered by: 

Question: 
Do you need to modify or prepare a change in terms on a commercial loan when lowering the interest rate but not changing the maturity date? Can it just be done with a maintenance request?
Answer: 

This is a discussion to have with your legal counsel. I would never modify a commercial loan without borrower consent, regardless of what you were doing.

First published on 05/15/2022

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