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 Deed Trust Form With Mortgage In Franklin
State:
Multi-State
County:
Franklin
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
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FAQ
Deed of Trust Modification means, with respect to any Deed of Trust, a modification agreement entered into between the Borrower or the Project Owner, as applicable, and the Lender, modifying the terms and conditions of the Deed of Trust in order to (i) add to the lien of the Deed of Trust Additional Lots, or (ii) make ...
A deed of trust can benefit the lender because it allows for a faster and simpler way to foreclose on a home — typically months or even years faster.
Trust Deed - An instrument used to create a mortgage lien by which the mortgagor conveys his or her title to a trustee, who holds it as security for the benefit of the note holder (the lender); also called a Deed of Trust. Trustee's Deed - A deed executed by a trustee conveying land held in a trust.
Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California, Colorado, the District of Columbia, Idaho, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia, ...
With a deed of trust, though, there are actually three parties. The borrower is called the trustor, and the lender is called the beneficiary.
Section 6: Note that if Section 6 states that you will occupy the property as your principal residence, then you must do so. If you do not move in and continue to use the property as your principal residence ing to the conditions in this section, you could risk foreclosure.
