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.
Modification Agreement For Mortgage In Suffolk
State:
Multi-State
County:
Suffolk
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Mortgage Tax is equal to 1.05% of the total mortgage amount (minus a $30.00 deduction if applicable) which consists of the following: Basic Mortgage Tax is . 50% of mortgage amount. SONYMA (State of New York Mortgage Authority) aka Additional Tax is .
A mortgage modification changes the terms of your original mortgage agreement. Your lender will work with you to try and find a way to lower your monthly payment by adjusting the terms of your current mortgage. The goal is to help you get back on track.
The typical Suffolk County homeowner pays $10,000 annually in property taxes. That is due, in part, to high home values, as the median value in the county is $413,900. Even so, the average effective property tax rate in Suffolk County is 2.42%, far above both state and national averages.
Mortgage Tax is computed by a formula based on 1.05% of the amount of the mortgage. If mortgage amount is less than $10,000.00, mortgage tax is figured at three-quarters percent.
Mortgage Tax is computed by a formula based on 1.05% of the amount of the mortgage. If mortgage amount is less than $10,000.00, mortgage tax is figured at three-quarters percent.