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Is there a state regulation on how many mortgages can be on commercial real estate? We have an application on commercial real estate that already has two mortgages. – IBA Compliance Connection

IBA Compliance Connection

Your go to source for compliance!

Is there a state regulation on how many mortgages can be on commercial real estate? We have an application on commercial real estate that already has two mortgages.

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We are not aware of any restrictions on the number of mortgages that can be filed on a single commercial property under Illinois law.