Do you have to tell 1st lender about a prom note to the 2nd lender?

I have approval from the first lienholder and now the second wants a prom note. The approval letter from the first doesn't say one is not allowed so should I tell them about it or doesn't it matter?

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Permalink Reply by Jeff Payne on July 12, 2011 at 1:58am
I dont believe that it is any of their business and you do not have to tell them.  Sellers and the 2nds do this type of workout all the time
Permalink Reply by Kimberley Kelly on July 12, 2011 at 2:08am
No.
Permalink Reply by Beverly Cibulsky on July 12, 2011 at 10:28am

 

Is the first asking to see the approval from the or "conditioning the approval on seeing the second" If not, dont provide anything you are not asked for!

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