Legal Question in Consumer Law in Pennsylvania
When a Mortgage is modified by the servicer is the loan documents changed?
Asked on 6/15/10, 4:11 am
1 Answer from Attorneys
There should be a modification agreement that says what is changed. The actual lien recorded on your property may or may not change. I really would have to see the documents - each lender may do it differently. What exactly are they changing? Usually, you would enter into something called a "modification agreement" and that would state that a particular paragraph in the note is revised to read as follows and then it would state the new provisions.
Answered on 6/15/10, 1:21 pm
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