Second Mortgage Form PDF Details

In the realm of homeownership and real estate financing, the Second Mortgage form, specifically under the Department of Housing and Urban Development's FHA Good Neighbor Next Door Sales Program, plays a crucial role. This legal document outlines the agreement between the borrower and the lender, detailing the principal sum owed by the borrower to the lender, which is secured by the property specified within the document. The form includes vital sections that specify the terms of debt repayment, borrower promises, occupancy requirements, applicable fees and charges, along with the procedures to be followed in the event of foreclosure. It addresses the legal and financial obligations of the borrower, who mortgages the property as security for the loan, and establishes the conditions under which the borrowed sum will become due. The form also elaborates on arrangements regarding co-signers, providing clear guidelines on their responsibilities and rights. Notices and communications related to the mortgage, governance by federal law, provision for severability in case of conflict with applicable law, and the rights for acceleration of debt repayment following any default by the borrower are comprehensively covered. Importantly, this document ensures that the borrower is well-informed of their rights and obligations through the provision of a conformed copy, reinforcing the legal framework that supports responsible borrowing and lending practices within the housing sector.

Form NameSecond Mortgage Form
Form Length3 pages
Fillable fields0
Avg. time to fill out45 sec
Other namesmortgage second home, 2nd mortgage form, blank real estate mortgage forms, second mortgage forms

Form Preview Example




$___________________________________, 20


(Property Address)

This Second Mortgage (“Security Instrument”) is given on ________________________,

20. The Mortgagor(s) is/are _______________________________________________, whose address is _____________________________________________________[property address] (“Borrower”). This Security Instrument is given to the Secretary of Department of Housing and Urban Development (“Secretary”), whose address is ___________________________________

(“Lender”). Borrower owes Lender the principal sum of

________________________________________ Dollars (U.S. $___________). This debt is evidenced by Borrower’s note (“Note”) dated the same date as this Security Instrument, which provides for the circumstances under which the principal sum will become due and payable.

This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note and in accordance with the terms of the Note, and (b) the performance of Borrower’s promises and agreements under this Security Instrument and the Note. For this purpose, borrower does hereby mortgage, grant and convey to the Lender, the following described property located in


[insert legal description or statement regarding its attachment]

which has the address of ____________________________________________[Street],

____________________________________[City], ____________[State] __________[Zip Code].

(“Property Address”);

TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the “Property.”

BORROWER PROMISES that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is

unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances or record.

1.Payment of Principal and Interest. Borrower shall pay, when due and payable, the principal sum of the debt evidenced by the Note and according to the terms of the Note.

2.Occupancy. Borrower shall own and occupy, establish and use the Property as Borrower’s sole residence and shall continue to occupy the Property as Borrower’s sole residence for at least 36 (thirty-six) months, beginning on ________________________[insert date of commencement of Owner-occupant period – thirty (30), ninety (90) or one hundred eighty (180) days after closing] and ending on __________________________________[36 (thirty-six) months after date of commencement].

3.Fees. Lender may collect fees and charges authorized by the Note.

4.Grounds for Acceleration of Debt. Lender may require immediate payment in full of all sums secured by this Security Instrument as evidenced by the Note after any default by the Borrower occurs as described in paragraph 5 of Note.

5.Foreclosure Procedure. [For illustration only. Needs adaptation, per the instruction relating to paragraph 18 of the model mortgage form in appendix II of HUD handbook 4165.1 REV-2.] If lender requires immediate payment in full under Paragraph 4 above, Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in the paragraph 5, including but not limited to, reasonable attorney’s fees and cost of title evidence.

If lender invokes the power of sale, Lender shall give notice to borrower in the manner provided in paragraph 7 below. Lender shall publish and post the notice of sale, and the Property shall be sold in the manner prescribed by applicable law. Lender or its designee may purchase the property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including but not limited to, reasonable attorney’s fees; (b) to all sums secured by this Security Instrument as evidenced by the Note; and (c) any excess to the person or persons legally entitled to it.

[The following language is mandatory in all cases.] If the Lender’s interest in this Security Instrument is held by the Secretary and the Secretary requires immediate payment in full under Paragraph 4, the Secretary may invoke the nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 (“Act) (12 U.S.C.3751 et seq.) by requesting a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 5 or applicable law.

6.Joint and Several Liability; Co- Signers. Borrower’s promises and agreements shall be joint and several. Any borrower who is not a law enforcement officer, teacher or firefighter/emergency medical technician who co-signs this Security Instrument, but does not execute the Note is: (a) co-signing this Security Instrument only to mortgage, grant and convey that Borrower’s interest in the Property under the terms of this Security Instrument; (b) not personally obligated to pay the sums secured by the Security Instrument as evidenced by the Note;

(c)not obligated to live in the Property as his or her sole residence for three years; and (d) agrees that Lender and any other Borrower may agree to make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower’s consent

7.Notices. Any notice that must be given to Borrower under this Security Instrument will be given by delivering it or by mailing it by first class mail to Borrower at the Property address above.

Any notice that may be given to the Lender under this Security Instrument will be given by mailing it first class mail to the Lender at the address stated above or at a different address, if Borrower is given notice of that different address.

8.Governing Law; Severability. This Security Instrument shall be governed by Federal Law. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provision of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end, the provisions of this Security Instrument and the Note are declared to be severable.

9.Borrower’s Copy. Borrower shall be given one conformed copy of this Security Instrument.

BY SIGNING BELOW, borrower accepts and agrees to the terms of this Security Instrument.







How to Edit Second Mortgage Form Online for Free

Dealing with PDF files online can be quite easy with our PDF tool. Anyone can fill in mortgage second form here painlessly. Our editor is continually evolving to deliver the very best user experience attainable, and that's due to our commitment to constant improvement and listening closely to user feedback. All it requires is several easy steps:

Step 1: Press the "Get Form" button above. It's going to open up our tool so you could begin completing your form.

Step 2: As you start the PDF editor, you will notice the form prepared to be completed. Apart from filling out different blank fields, you can also do other sorts of actions with the file, particularly adding your own textual content, editing the original text, adding graphics, signing the PDF, and much more.

If you want to fill out this PDF form, be sure you type in the right details in each blank field:

1. To begin with, when filling out the mortgage second form, begin with the page that includes the following blanks:

second mortgage form blank conclusion process shown (portion 1)

2. The next step would be to submit these particular blanks: which has the address of Street, and BORROWER PROMISES that Borrower is.

Best ways to complete second mortgage form blank stage 2

When it comes to BORROWER PROMISES that Borrower is and which has the address of Street, ensure that you get them right in this current part. Those two could be the most important ones in the document.

3. This next portion is about Occupancy Borrower shall own and, Borrowers sole residence and shall, Fees Lender may collect fees and, Grounds for Acceleration of Debt, Foreclosure Procedure For, If lender invokes the power of, and all sums secured by this Security - complete all of these blank fields.

Stage no. 3 for filling in second mortgage form blank

4. The following paragraph comes with these fields to fill out: Instrument Witness, and Borrowers.

Tips on how to complete second mortgage form blank step 4

Step 3: Spell-check everything you've inserted in the blanks and then click on the "Done" button. After creating afree trial account here, it will be possible to download mortgage second form or send it via email right off. The PDF file will also be accessible through your personal cabinet with your every modification. We do not share or sell any information you use whenever filling out forms at our website.