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.
The Broward Florida Change or Modification Agreement of Deed of Trust is a legal document that allows changes or modifications to be made to an existing deed of trust in Broward County, Florida. This agreement is beneficial for borrowers and lenders who wish to amend certain terms and conditions of the original deed of trust. Some relevant keywords associated with the Broward Florida Change or Modification Agreement of Deed of Trust may include: 1. Broward County, Florida: This refers to the specific location where the agreement is applicable. 2. Change or Modification Agreement: Indicating the purpose of the document, which is to modify or change the terms and conditions of a deed of trust. 3. Deed of Trust: Referring to the original legal document that establishes a property as security for a loan. Different types of Broward Florida Change or Modification Agreement of Deed of Trust may include: 1. Interest Rate Modification Agreement: This type of agreement is created when there is a need to adjust the interest rate outlined in the original deed of trust. This modification can be made to lower the interest rate, allowing borrowers to have lower monthly mortgage payments. 2. Extension or Renewal Agreement: In cases where the borrower requires an extension on the loan repayment term outlined in the original deed of trust, an extension or renewal agreement can be drafted. This provides the borrower with more time to fulfill their financial obligations. 3. Principal Reduction Agreement: When the borrower faces financial difficulties and is unable to meet the original loan amount mentioned in the deed of trust, a principal reduction agreement can be made. This agreement modifies the principal amount owed, helping the borrower manage their financial obligations. 4. Collateral Modification Agreement: If there is a need to change the collateral listed in the original deed of trust, a collateral modification agreement is drafted. This allows for the substitution or removal of collateral, ensuring that the updated terms reflect the borrower's current assets. It is important to consult with legal professionals or title companies in Broward County, Florida, to ensure the specific requirements and procedures related to the Broward Florida Change or Modification Agreement of Deed of Trust are met.
