UCC Fixture Filing vs Blanket Mortgage
Started by multicityresident
about 5 years ago
Posts: 2354
Member since: Jan 2009
Discussion about
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Just came across something I haven't seen before, but it looks interesting. I was trying to discern amount of underlying coop mortgage (blanket mortgage) on a building, and found that its $400,000 blanket mortgage from 1998 has been refinanced twice (one in 2008 and once in 2018) via UCC Fixture Filings, the amount of which one cannot discern through ACRIS. Is this a creative way for the building to refinance without putting the underlying land at issue? (The building is not a landlease).