Guidelines for Loan Extension Agreements

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Question:

Loan extension agreements. Where can you find the forms? What disclosures are required when a maturity extension is given, no change in interest rate and no new money advanced?

Answer:

Loan deferments are governed by state law. Any required forms and/or disclosure requirements will be found there. Consult your attorney to help draft any necessary forms and disclosures.

First published on BankersOnline.com 7/23/12