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TOPIC: Re:future advance mortgage

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#1127

Brian (User)

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Posts: 59

future advance mortgage 5 Months ago	Karma: 1
with a future advance mortgage, do you need to file an addendum with the county everything the loan is increased to secure to the loan proceeds?

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#1131

Samantha (User)

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Posts: 83

Re:future advance mortgage 4 Months, 4 Weeks ago	Karma: 2
Are you asking if a new mortgage needs to be filed? If so then no. Just create new loan docs and keep in file. The future advance mortgage will act as a blanket lien on the property.

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#1134

Sumo (User)

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Posts: 155

Re:future advance mortgage 4 Months, 4 Weeks ago	Karma: 6
A future advance mortgage is not a transfer of property, only a lien. So the answer to your question would be no, if I am understanding it correctly.

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