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Message
re: Wraparound Mortgages
Posted on 4/14/15 at 2:54 pm to CubsFanBudMan
Posted on 4/14/15 at 2:54 pm to CubsFanBudMan
Theres most likely a section in your documents that will highlight this, its probably easy to find
1
Posted on 4/14/15 at 3:57 pm to misterc
I do not see anything stating due on sale. In a couple of different sections it states:
"Mortgagor shall not, without the prior written consent of Mortgagee, sell, transfer, forgo, assign, pledge, do anything or permit anything to be done that may in any way affect Mortgagee;s security interests and rights in and to the mortgaged Property, or create or permit to exist any Encumbrance in or against any of the Property, in favor of any person other than Mortgagee."
"Mortgagor shall not, without the prior written consent of Mortgagee, sell, transfer, forgo, assign, pledge, do anything or permit anything to be done that may in any way affect Mortgagee;s security interests and rights in and to the mortgaged Property, or create or permit to exist any Encumbrance in or against any of the Property, in favor of any person other than Mortgagee."
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