Tag: mortgage

Form-of-the-Week: Personal Property Inventory, and Security Agreement For Note Secured by Personal Property — Forms 256 and 436

These forms are used by a seller’s agent or escrow officer when preparing a purchase agreement or counteroffer for a real estate transaction when the transfer of personal property is included and when on a carryback sale the price includes the transfer of personal property which together with the property sold will be security for the carryback note, to grant the seller a security interest in the personal property.

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Form-of-the-Week: Agreement to Modify a Promissory Note, and Modification of the Promissory Note — Forms 426 and 425

These forms are used by a holder of a mortgage, their servicing agent or broker when arranging the modification of the mortgage note, to set forth the terms sought in the modification effort, to evidence the modification of the original note and state the change in terms of the note.

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