Sample of Loan Modification Agreement

There is also room for custom changes based on the needs of both the lender and the borrower. Once the agreement is finalized, both parties must sign the document in front of a notary and then have the document notarized. Each party should keep a copy of the agreement and submit it to the same place where it keeps its copy of the loan agreement so that all the terms of the debenture are in the same place. This loan agreement amendment agreement is a document that allows the parties to modify the terms of a loan agreement that has already been signed. A loan agreement prescribes the terms of an agreement allowing the lender to lend money to the borrower. By using this document to amend the Agreement, the parties have the opportunity to amend the terms of the original Agreement. This can be especially useful in cases where the parties want to make the terms more favorable so that the borrower is better able to continue to abide by the terms of the agreement without defaulting on the loan. Other names for the document: Promissory Note Modification Agreement, Modification of conditions for promissory notes, Change of promissory note, Change of payment agreement Modify This document allows you to make a number of changes, including:. .