Multistate Riders and Addenda (Form 3131). Single-Family - Fannie Mae Uniform Instrument: Fill out & sign online

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2020	4.8 Satisfied (100 Votes)
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What is the purpose of a second home rider?

This rider usually states that: the borrower will occupy and only use the property as the borrower's second home. that the property will be kept available for the borrower's exclusive use and enjoyment at all times.

What is a Fannie Mae addendum?

Occasionally, an addendum is also used to amend a rider. This page provides downloadable copies of standard and negotiated instruments, including: Fannie Mae/Freddie Mac Uniform Instruments.

What is a rider to security instrument?

RIDER TO SECURITY INSTRUMENT LIHTC PROPERTIES. This Rider (\u201cRider\u201d) is attached to and amends the Security Instrument entered into between [Borrower] and [Lender], dated as of [Date] (\u201cSecurity Instrument\u201d).

What is a family rider on a mortgage?

This type of rider permits the lender to collect rent from the property if you default on the loan. Any rent the lender collects goes to pay down the outstanding loan balance until the default is cured. If you pay your mortgage on time and do not default on your loan, a 1-4 Family Rider should never be an issue.