Once a loan matures, whatever you do would require new disclosures.
Workout loan and disclosures
We had a 30 year fixed loan modified to a 5 - year balloon due to collection issues. The balloon is now past due and we want to do a workout/refi back to the original terms of the original 30 - year note. Would we have to disclose? Our main concern is this is a workout/refi of an expired balloon modification..
First published on 07/24/2016