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tgengler
13 Posts |
 Posted - 08/27/2008 : 12:40:24 PM
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Hello,
We have a construction loan that is going to be over budget by $15k which will still be below 80%. We are wondering if we have to re-close this file to change the ln amt or can just complete a loan modification form.
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alanadanielle
109 Posts |
Posted - 08/27/2008 : 3:41:22 PM
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You cannot raise a loan amount with a loan modification and being over budget would not constitute a hardship, at least not in my experience.
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