Deed Of Trust Modification With Wells Fargo In North Carolina

• 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 with Wells Fargo in North Carolina serves as a formal document that modifies the existing deed of trust to better reflect the terms of the debt owed by the borrower. This modification typically involves renewing and extending the lien on the property to secure the debt until it is completely paid off. Key features of the form include defining the roles of the borrower and lender, as well as stipulating payment terms, interest rates, and obligations in the event of default. Filling out the form requires careful input of property details, loan terms, and the acknowledgment of co-grantor liabilities. It is typically used by individuals in situations where they need to secure more favorable terms on their existing mortgage or debt obligations. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions, as it clarifies lender rights and borrower responsibilities. It also streamlines the modification process, providing a clear framework for all parties involved, and ensuring compliance with relevant state laws. Understanding the detailed terms in this document can facilitate smoother negotiations and protect the interests of both the borrower and lender.