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Loan Modification Agreement (page 1 of 6 pages) This instrument was prepared by ____________________________ Name of Natural Person ____________________________ Street Address ____________________________ City, State ZIP After Recording Please Return To: ____________________________ Company Name ____________________________ Name of Natural Person ____________________________ Street Address ____________________________ City, State ZIP ------------------------------------------------------------------- [Space Above This Line for Recording Data] ------------------------------------------------------------------- DEED OF TRUST MODIFICATION AGREEMENT This Deed of Trust Modification Agreement (the "Modification Agreement"), entered into and effective as of the ________ day of __________________________, ________ (the "Modification Date"), between ________ _______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ("Borrower"), _______________________________ ___________________________________("Co-grantor"), and _______________________________________________ ("Lender"), modifies the mortgage or deed of trust (the "Security Instrument," which term includes all riders thereto) to secure the debt evidenced by this Modification Agreement. The Security Instrument
Is issued by , and registered in the name of, the real estate loan originator. The principal amount (the total amount of the debt), (the original principal balance of the debt), and interest rate of interest for years at a rate not to exceed the maximum rate of interest for a term not less than the maximum term for a loan, will be (the original principal balance of the debt) per annum, payable monthly, payable monthly. (the interest rate of interest for each full year of a loan will be calculated as the weighted average rate of interest as established by the real estate mortgage loan originator). You acknowledge the covenants included in the modification agreement are subject to condition precedent for the covenants to be taken into effect. These conditions, as defined in the agreement, are subject to change by the parties. If the debt is not modified (no amendment is required), the defaulted mortgage or deed of trust will become null and void. If the debt is modified (an amendment is required), such modification will create one or more new covenants binding on the borrower. For the new covenants, the defaulted mortgage or deed of trust, if there is one, will also become null and void. (the parties to this agreement have a continuing obligation to execute the revised and amended deed of trust or mortgage document to become effective. If both parties agree in writing prior to the effective date that the mortgage or deed of trust should be revised and amended, the parties expressly promise to execute such documentation within the time limits of the section). [additional data in square brackets] ------------------------------------------------------------------- [space in square brackets for recording data] ------------------------------------------------------------------- / if you are a borrower with a loan of 100,000 or less (the loan amount is not capitalized), you will need to take these steps to prepare yourself for the termination of your loan, including the foreclosure process, including the possibility of being forced to pay back principal and back the difference between the original cost and the current cost. 1. Determine the amount of your principal remaining. The original principal plus any accrued interest will be approximately 60,000. A mortgage is no longer interest-bearing when the original principal is greater than the present amount on the mortgage. The amount that you can expect.