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 With Wells Fargo In San Antonio
State:
Multi-State
City:
San Antonio
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Trust Services are available through Wells Fargo Bank, N.A. Member FDIC and Wells Fargo Delaware Trust Company, N.A. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice in your state.
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.
Mortgage Deed of Trust Good to know: Texas does not use mortgages. Instead, Texas uses Deeds of Trust. The document is referred to as a Deed of Trust because there is a Trustee named for the property.
The biggest difference between a deed and a title is physical: a deed is an official written document declaring a person's legal ownership of a property, while a title refers to the intangible concept of ownership rights.
Disadvantages of a Trust Deed For borrowers, if financial circumstances change, default on repayment can result in property foreclosure.
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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Because of a glitch in Wells Fargo's software program, hundreds of people were unable to modify their home loans, leaving many stuck in the financial situation that caused them to apply for the modification in the first place.
“As part of that review, we determined that our home lending business was too large, both in terms of overall size and its scope.” Ted Rossman, senior industry analyst at Bankrate, said Wells Fargo has “been dogged by various regulatory scandals, and it's also a tough time for the mortgage market right now.”
Contacting Wells Fargo customer service or visiting a local branch: Inform Wells Fargo of your intention to transfer your checking account into the trust. You can do this by calling their customer service or visiting a local branch. The Wells Fargo customer service number is 1-800-869-3557.