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Partial Release of Property from Mortgage for Corporation Oklahoma Form

Partial Release of Property from Mortgage for Corporation Oklahoma Form

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cross-collateralization or cross-coateralized basically the way this works is if you came to me and you were buying a property for 100 grand and I wanted you to put twenty thousand dollars down on that property I'll ask you do you have any other property free and clear or with a low balance that we could take that loan out and we could put another mortgage on that property so let's say that you had a hundred thousand dollar loan and I wanted twenty thousand down but you said well hey I've got this vacant lot worth fifty thousand dollars over here it's free and clear if it was worth 50 and you just wanted to not have to come up with the 20 I would just say I would put a mortgage on the fifty thousand dollar lot as well as the hundred thousand dollar loan property and we would uh make that work that way so we cross collateralize another piece of property that you have sitting there

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