Bank Loan on 1-3 Family converting to 1
When we purchased our brownstone in 2003, it was a 3 family and we rented out two floors.
Now we have decided to convert to a one family (tenants have already left).
Only issue is that I wasn’t sure whether I needed to inform my bank or not – we have a Chase first lien loan and I just can’t tell if our renovating the space to a one family is something we need consent or not.
Thanks in advance.
