Loan Modification Agreement

A loan modification agreement is used when a lender and borrower elect to modify the terms of a pre-existing promissory note. The parties may choose to modify any number of issues previously agreed to, including the note balance, the interest rate, the payment terms, etc. the document must be signed by both lender and borrower and filed of record if the note is secured by a real estate mortgage.

Documents to be prepared for you: “Follow-Through” Instructions, Modification Agreement.