Deed Of Trust Modification Form For Mortgage In Washington

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

Description

The Deed of Trust Modification Form for Mortgage in Washington is a crucial document that modifies an existing mortgage or deed of trust to secure debt under new terms. This form captures essential details, including the names of borrowers and lenders, the property involved, and modification dates. It allows for the renewal and extension of the lien on the property, thus enabling borrowers to adjust their mortgage agreements without entirely restructuring their loans. Key features include clear payment terms, including monthly amounts and interest rates, and provisions for prepayment and late charges. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form particularly useful for facilitating mortgage modifications in compliance with Washington state laws. Filling out the form requires accurate and clear input of personal and property details, as well as careful attention to any amendments in terms and conditions agreed upon by the borrower and lender. The form also serves as a legally binding agreement that reflects the final understanding of both parties regarding the modification while protecting the lender's rights.