Loan Modification And Extension Agreement Form

There is also space to include custom modifications based on the needs of the lender and borrower. Once the agreement is reached, both parties should sign the document before a notary and have the notarial document certified. Each party must keep a copy of the agreement and deposit it in the same place as keeping its copy of the loan agreement, so that all the conditions of the notification are in the same place. This loan agreement is a document that allows the contracting parties to change the terms of an existing loan agreement. A loan agreement requires the lender to lend money to the borrower. On the basis of this document amending the agreement, the parties have the option of amending the terms of the original agreement. This can be particularly useful when contracting parties wish to make the terms more accessible so that the borrower is better able to meet the terms of the agreement without the credit being late. This document allows you to make a number of changes, including: Other names for the document: agreement to change the eligibility note, change in the terms of the debt title, change in the title of debt, modification of the payment agreement.