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Work-out agreements and loan modifications: Put them in writing if the collateral is real property

Jeff Brown October 14, 2020
A person signing a real estate contract

In a recent decision, the California Court of Appeal held that the statute of frauds precluded an investment borrower from alleging there was a verbal commitment that the borrower could refinance or re-amortize a real estate-secured loan with a new repayment period. READ MORE