3 properties 1 loan

[Samuel DeMass]

I've got 3 properties mortgaged together on one loan. At the time, it was the only feasible way to get the financing done, as it was a portfolio lender from a banker I knew well. Now, a few years down the road, I'm ready to start improving my overall cash flow and maybe 1031 to a more profitable property by selling the lower performers and keeping one. Here's my question: What happens to mortgage when I sell one or two properties? I plan on giving the bank a call and discussing. Any additional suggestions on things I should consider would also be appreciated. Thank you for your time!

[Ned Carey]

Read the terms of your note. When in doubt it's is best to go back to the original contraact, in this case the note.  Now being a few years latter the bank may have different motivations and may be willing to negotiate terms not in the note