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Mortgage
Rates
Blanket loan
Blanket Loan is a loan that uses more than
one piece of land to secure a debt. A “release clause” allows
some of the land
to be
released upon partial payment of the debt. The beneficiary of a blanket
loan signs a “request for partial reconveyance” when part of the
debt is paid. The
trustee signs and records a “partial reconveyance deed”.
When
a builder pays to have several lots released from a blanket loan,
his equity in the remaining lines increases.
For example: As an investor you will buy a number
of houses on one street right next to each other. Rather than pay
points and fees for each property seperately, blanket loan may save
you money. | 
