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.
Deed Of Trust Modification Form With Mortgage In North Carolina
State:
Multi-State
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
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FAQ
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.
Is North Carolina a Mortgage State or a Deed of Trust State? North Carolina is a Deed of Trust state.
In North Carolina, a deed of trust or mortgage acts as a conveyance of the real estate. Upon repayment of the debt or performance of the obligation, the conveyance becomes void.
In North Carolina, there are three main types of deeds: (1) general warranty deed; (2) special warranty deed; and (3) quitclaim deed. Each of these main types of deeds are used for different purposes. The general warranty deed is the most common type of deed used in North Carolina.
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 ...
In Alabama, Arizona, Arkansas, Illinois, Kentucky, Maryland, Michigan, Montana and South Dakota, the lender has the choice of either a mortgage or deed of trust. In any other state, you must have a mortgage.
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.
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 ...
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Most defects in deeds of trust are discovered when a default triggers foreclosure, and the lender hires an attorney to act as Trustee in the foreclosure. Check the applicable Rider boxes in the Short Form Deed of Trust.Insert the property description information and the address in the Short Form Deed of Trust. Edit, sign, and share deeds of trust online. No need to install software, just go to DocHub, and sign up instantly and for free. Required elements for a document to be an insurable Deed of Trust: a. Must be in writing. b. Find what you need quickly and easily with our array of forms for your convenience. Read or print a copy from here! North Carolina (3034).