[kwatson]

We are looking into doing a change in terms for a customer whose home loan balloon has come due, to extend the maturity date of the note and mortgage. The original maturity date of the original note and mortgage was 4/4/2024 and due to a couple of payment deferrals, it is now expired.

Would filing a modification mortgage and change in terms to extend the maturity date still be effective although the original date of the mortgage has expired?

Topic

[Kimberly Boatwright, CAMS, CRCM]

This question would need to be asked of your institution’s attorney. There could be specific state laws that need to be addressed with these types of issues.

NOTICE: This email message, including any attachments, is intended only for the addressee, and may contain confidential and privileged information either as protected work product or confidential client information. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, do not read, copy, retain, or disseminate this message or any attachment, and please contact the sender by reply e-mail or at 888.760.5646 and destroy all copies of the original message and attachments. Neither the transmission of this message or any attachment, nor any error in transmission or misdelivery shall constitute waiver of any applicable legal privilege.

THIS EMAIL AND ITS ATTACHMENTS DO NOT CONSTITUTE LEGAL ADVICE

[Author]

Replies