When mortgages wind up in foreclosure for default on the loan contract, the deed to the property can transfer to the lender. How to mortgage isn't complicated. A private mortgage may be created when individuals loan money, sometimes called a purchase money mortgage, seller financing, or owner financing. Mortgage documents are also created by commercial mortgage lenders and agencies like Fannie Mae. US Legal Forms offers numerous professional mortgage documents, such as mortgage release, partial release, mortgage satisfaction, private mortgage, estoppel certificate, mortgage assignment, mortgage modification, second mortgage, promissory note, and many other mortgage forms.
Assignment of Mortgage - a mortgage assignment transfers the mortgage from the original lender to a third party.
Assumption of Mortgage - mortgage assumption occurs when another takes over the loan payments of the borrower.
Balloon mortgage - a balloon mortgage calls for a large final payment at the end of the loan term.
Mortgage Modification - a modification of mortgage may be agreed to by the lender to prevent foreclosure.
Release Of Mortgage - a mortgage release is filed after the loan is repaid to clear the title to the property. Also called a discharge of mortgage. A partial release may be requested when multiple property units are secured by a mortgage.
Second Mortgage - a second mortgage is additional financing based on the equity of the borrower in the property.
Mortgage Deed - a mortgage deed is also called a deed of trust or trustee's deed. The lender's trustee holds the deed until the loan is repaid before transferring the deed to the buyer.
Estoppel Certificate - an estoppel certificate is used by the lender to ensure a tenant won't withhold payments due to claims against a landlord.
Other related mortgage forms include:
- Mortgage Extension
- Mortgage Note
- Assignment of Mortgage Package
- Satisfaction, Release, or Cancellation of Mortgage Package
- Mortgage Assumptions
- Mortgage Satisfaction
- Estoppel Affidavit by Mortgagee
- Estoppel Affidavit by Mortgagor
- Balloon Mortgage
- Balloon Note
- Mortgage Addendum
- Satisfaction of Mortgage
- Tenant Estoppel Certificate
- Discharge of Mortgage
- Second Mortgage
- Modification of Mortgage
- Promissory Note
- Fannie Mae forms