Deed Of Trust Modification With Future Advance Clause In Orange

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

Description

The Deed of Trust Modification with Future Advance Clause in Orange is a legal document designed to modify an existing deed of trust, allowing for future advances secured by the same property. This form emphasizes the renewal and extension of the lien to ensure the security of an updated debt, which is particularly useful for borrowers and lenders aiming to adjust their agreements under changing financial circumstances. The form elaborates on the Borrower's obligations, including payment terms, interest rates, and rights regarding prepayment and default. Key features include the ability for co-grantors to sign without incurring personal liability, ensuring protections for the Lender while outlining clear terms for the Borrower. Users should carefully fill out all sections including the date, parties involved, and specific loan details. This modification agreement serves various purposes, such as refinancing, consolidating debt, or adjusting loan terms, making it essential for attorneys, paralegals, and other legal professionals assisting clients in real estate transactions.