Mortgage Extension Agreement

This Mortgage Extension Agreement is between a mortgage borrower (the “mortgagor”) and a mortgage lender (the “mortgagee”) who mutually agree to extend the time for payment of a mortgage. This mortgage extension sets out the specific terms of this arrangement including the names of the parties, pertinent information regarding the mortgage, new maturity date for the mortgage and any revised payment terms. It also sets out that all other terms regarding the mortgage remain in full force and effect. It is important that this type of business transaction be in writing and not through oral agreement. A written Mortgage Extension Agreement will be useful in the event of disagreements or disputes regarding the mortgage extension. (continued ...)