This form is a sample of an agreement to extend the time of a loan commitment in order to consummate a purchase of real property which will be security for the loan. In effect the loan applicant is asking for an extension of the date of closing set forth in the loan commitment or application.
Houston Texas Extension of Loan Closing Date refers to the process of extending the original date set for the closing of a loan in the city of Houston, Texas. This extension allows for the borrower and lender to mutually agree upon a revised deadline, providing additional time to complete any necessary tasks and paperwork related to the loan closing process. When it comes to types of Houston Texas Extension of Loan Closing Date, there are a few possibilities: 1. Voluntary Extension: This occurs when both the borrower and lender agree to extend the loan closing date willingly. Voluntary extensions may be requested by either party and are typically granted if both parties are in mutual agreement and there are valid reasons behind the need for an extension. 2. Unilateral Extension: In some situations, the lender may have the authority to unilaterally extend the loan closing date without requiring the borrower's consent. This is usually outlined in the loan agreement and can happen if certain conditions or events occur that warrant an extension, such as unforeseen delays in loan processing. 3. Force Mature Extension: Force majeure refers to unforeseen circumstances or events that are beyond the control of both the borrower and lender, such as natural disasters or government actions. In such cases, a force majeure clause in the loan agreement may allow for an automatic extension of the loan closing date until the situation stabilizes. Keywords: Houston Texas, loan closing date, extension, borrower, lender, revised deadline, paperwork, process, loan closing process, voluntary extension, unilateral extension, force majeure extension, loan agreement, unforeseen circumstances, natural disasters, government actions.Houston Texas Extension of Loan Closing Date refers to the process of extending the original date set for the closing of a loan in the city of Houston, Texas. This extension allows for the borrower and lender to mutually agree upon a revised deadline, providing additional time to complete any necessary tasks and paperwork related to the loan closing process. When it comes to types of Houston Texas Extension of Loan Closing Date, there are a few possibilities: 1. Voluntary Extension: This occurs when both the borrower and lender agree to extend the loan closing date willingly. Voluntary extensions may be requested by either party and are typically granted if both parties are in mutual agreement and there are valid reasons behind the need for an extension. 2. Unilateral Extension: In some situations, the lender may have the authority to unilaterally extend the loan closing date without requiring the borrower's consent. This is usually outlined in the loan agreement and can happen if certain conditions or events occur that warrant an extension, such as unforeseen delays in loan processing. 3. Force Mature Extension: Force majeure refers to unforeseen circumstances or events that are beyond the control of both the borrower and lender, such as natural disasters or government actions. In such cases, a force majeure clause in the loan agreement may allow for an automatic extension of the loan closing date until the situation stabilizes. Keywords: Houston Texas, loan closing date, extension, borrower, lender, revised deadline, paperwork, process, loan closing process, voluntary extension, unilateral extension, force majeure extension, loan agreement, unforeseen circumstances, natural disasters, government actions.
