Change Deed Trust With Future Advance Clause In Georgia

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• Control #: US-00183
• Format: Word; Rich Text

Description

The Change Deed Trust with Future Advance Clause in Georgia serves to modify an existing mortgage or deed of trust to secure additional financing while retaining the validity of the original security instrument. Key features include the renewal and extension of the lien, which ensures that the borrower's obligations remain secure until paid in full, as well as provisions for interest rates, payment terms, defaults, and late charges. This form is particularly useful for borrowers seeking to obtain further funds against a property already under lien, allowing them to manage their financial commitments efficiently. Legal professionals, such as attorneys and paralegals, will appreciate the clear instructions for filling out the form, including required details on the loan, property, and parties involved. The document includes sections on co-grantor liability, which protects those who do not sign the original promissory note but have an interest in the property. Moreover, the form provides a comprehensive outline of payment stipulations and the rights of both lenders and borrowers, making it an essential tool for those involved in real estate transactions or mortgage modifications.