We have a loan that has an unlimited guaranty. The guaranty is secured by a lien on the guarantors residence. The loan was just increased and we have a question on whether we should do a modification to the guarantor's DOT to acknowledge the increase. I think not as the guaranty is unlimited but if the guaranty was limited to a specific $ amt then we would modify the DOT if the note was to increase. Is this correct? Thanks.

It depends on whether the subject state’s law requires the maximum amount of secured debt to be listed on the DOT and/or whether or not your DOT lists the amount of debt.