Definitions for "MODIFICATION AGREEMENT"
a written document, signed by the beneficiary and the borrower that alters the terms of either the note of deed of trust.
Any agreement between the lender and the borrower that permanently alters any of the terms of the original mortgage or note.
Any type of alteration to an original loan that is agreed upon by the borrower and lender.
In the mortgage lending industry, a written directive to the title company to correct a typographical error on instructions to title.
An instrument which changes or modifies a mortgage or deed of trust from the original document as the terms.