99% time, LOCs are secured flex interest loans. They need to be secured by collaterals, Real Property. So they are underwritten with the value of each property attached.
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2019-11-21(#12476982@0)+1
When bank issue loans they have to make UCC filing yo claim their title of the real property for the loan they issued.
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2019-11-21(#12476986@0)
You can change the flex interest rate to term fix interest loans but you can’t take any more cash without modifying the value of the real property.
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2019-11-21{145}(#12477001@0)
RE-value the same property is one way. Adding more real property is another way. But bank has to process again so the legal fee will incur again.