Posted by Randy (SD) on September 13, 2005 at 15:58:58:
Your escrow company or closing Attorney can easily draft such a document for you. Commonly referred to as a modification agreement, or in this case substitution of collateral. Ask your escrow company or do a google search for “substitution of collateral”.
Loan Modification Document (extension to mortgage) - Posted by Andrew Ewig
Posted by Andrew Ewig on September 13, 2005 at 14:54:22:
Guys:
I have a loan (owner financed)and I am selling the property with which the loan is collateralized. I am looking to continue making the same payments and switch the collateral from the property I am selling, to one I am buying. There is a document called a loan modification document -or something similar- but I do not know where to obtain one.
Does anyone know where to obtain something like this?
Regards,
Andrew Ewig