Modifies the terms of an existing loan, including interest rate, payment schedule, maturity date, or principal balance. Preserves all original security interests and guaranties.
The Loan Modification Agreement is a ready-to-use finance & investment template you can send for signature in minutes. It is written for 2 signers (lender and borrower) and, by default, expires 30 days after it is sent if left unsigned. It covers loan, modification, refinance, debt. Like every Abundera Sign template it is a convenience draft structured for ESIGN Act and UETA compliance, not a substitute for legal advice. Each signed copy is sealed with PAdES-LTA digital signatures, dual RFC 3161 timestamps, and a tamper-evident evidence package in WORM storage.
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# Loan Modification Agreement This Loan Modification Agreement ("Modification") is entered into as of ___________ by and between: **Lender:** ___________, a ___________ with a principal address at ___________ ("Lender"); and **Borrower:** ___________, a ___________ with a principal address at ___________ ("Borrower"). --- ## 1. Recitals and Original Loan Documents 1.1 **Original Loan.** Lender previously made a loan to Borrower in the original principal amount of ___________ pursuant to that certain ___________ (the "Note") dated ___________, as may have been amended (collectively, the "Loan Documents"). 1.2 **Current Balance.** As of ___________, the outstanding principal balance of the loan is ___________, and accrued and unpaid interest is ___________. 1.3 **Purpose.** The parties desire to modify the Loan Documents on the terms and conditions set forth herein. Except as expressly modified by this Modification, all terms and conditions of the Loan Documents remain in full force and effect and are hereby ratified and confirmed. --- ## 2. Modifications to Loan Terms The Loan Documents are hereby amended as follows: 2.1 **Interest Rate.** Effective ___________, the interest rate on the outstanding principal balance shall be changed to ___________% per annum, ___________. 2.2 **Monthly Payment.** Effective ___________, the required monthly payment shall be ___________, due on the ___________th day of each month, applied first to accrued interest and then to principal. 2.3 **Maturity Date.** The maturity date of the loan is hereby extended to ___________, on which date all remaining principal, accrued interest, and other amounts due under the Loan Documents shall be due and payable in full. 2.4 **Capitalized Interest.** The parties agree that accrued and unpaid interest of ___________ shall be ___________. 2.5 **Forbearance Period.** ___________ ___________ 2.6 **Additional Modifications.** ___________ ---