What is a Reconveyance or Modification the bank wants me to sign and have notarized?
When the REsource Capital/SBA portion of your loan funds, the bank must reconvey the interim Deed of Trust or modify the permanent Deed of Trust or Note through a recording with the county recorder. It is important that this recording be completed because the Title on your building will reflect the monies previously owed until the Reconveyance or Modification are filed. The bank is required to follow-up on these document recordings and REsource Capital does monitor the bank throughout this process in your best interest.
