Cross collateralize mortgage

[Marius P.]

Hello,

What is cross collateralize mortgage loan?

Does it make sence to do it?

Any lenders does that type of loan? What they requirements?

Thanks

[Cody L.]

Cross collateralized loans or simply alone that place is more than one property as collateral.

I had several smaller properties that were too small to bother to put debt on. Found a lender that gave me a large loan using the full group as collateral.

Just make sure there are payoff provisions in case you want to sell one without having to pay off the whole entire loan balance.