Loan Modification And Extension Agreement - Minnesota Housing printable pdf download

Loan Modification And Extension Agreement - Minnesota Housing

MINNESOTA HOUSING FINANCE AGENCY

LOAN MODIFICATION

AND

EXTENSION AGREEMENT

THIS AGREEMENT is by and between ____________________________________

__________________________________________________________________

(hereinafter referred to as “Borrower”), and the Minnesota Housing Finance

Agency, a public body corporate and politic of the State of Minnesota (hereinafter

referred to as the “Lender”), and shall have an effective date as of the date it is

fully executed by all of the parties hereto.

WITNESSETH:

WHEREAS, Borrower previously executed a promissory note in an original

principal amount of

_________________________________________________________

___________ ($___________________) and dated _______________________,

a copy of which is attached hereto as Exhibit A. (hereinafter referred to as the

“Promissory Note”); and

WHEREAS, in accordance with the provisions of Chapter 462A of the Minnesota

Statutes, the Promissory Note has been purchased by and assigned to the Lender,

and the Lender is the current owner thereof; and

WHEREAS, Borrower has encountered financial difficulties which make it

impossible for Borrower to comply with the terms and conditions of the Promissory

Note; and

WHEREAS, the Promissory Note is currently in areas; and

WHEREAS, Borrower and Lender wish to modify the Promissory Note in

accordance with the terms and conditions contained herein.

MMP_Servicing

1 of 4

04/2007

Loan Modification & Extension

Agreement

Loan Modification And Extension Agreement - Minnesota Housing