This form is a deed of trust modification. It is to be entered into by a borrower, co-grantor, and the lender. The agreement modifies the mortgage or deed of trust to secure a debt described within the agreement. Other provisions include: renewal and extension of the lien, co-grantor liability, and note payment terms.
Modification Agreement For Mortgage In Pennsylvania
State:
Multi-State
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
Description
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FAQ
A mortgage modification changes the terms of your original mortgage agreement. Your lender will work with you to try and find a way to lower your monthly payment by adjusting the terms of your current mortgage. The goal is to help you get back on track.
Strictly speaking, a modification to a mortgage does not need to be recorded to be enforceable between the borrower and the lender, as they are bound by the modification as a matter of contract law.
More info
Section A: List the full property address as it appears on the original document and include Municipality. This may be pulled from the Legal Description.The mortgage modification agreement is a legal document between a lender and borrower to change an existing loan's terms. Complete PA Mortgage Lender. Experienced Loan Modification Attorney to answer all your Loan Modification, Chapter 7, and Chapter 13 Bankruptcy Questions. A mortgage modification is an agreement between you and the mortgage lender to change the terms of your existing loan. A loan modification agreement used when a borrower is not in default to amend the terms of a commercial real estate loan in Pennsylvania. The statement of policy is effective upon publication in the Pennsylvania Bulletin.