Deed Of Trust Example In Michigan

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

Description

The Deed of Trust Modification Agreement in Michigan is a legal document that modifies existing mortgage or deed of trust agreements, effectively renewing and extending the lien on the property to secure the borrower's debt. Key features include sections detailing the borrower's promise to pay, interest rates, payment schedules, and the responsibilities of both the borrower and co-grantors. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to ensure compliance with state regulations when modifying existing real estate financing. The document clarifies the rights of the lender and borrower, addresses potential defaults, and establishes the method for giving notices related to the agreement. Users should fill in specific information such as names, addresses, financial details, and loan terms to ensure its relevance to each transaction. This modification agreement serves to protect the interests of all parties involved and provides a clear framework for managing changes in loan terms. Proper execution and notarization are critical to validate the agreement and enforce its provisions.