I have a request that our loan committee approved for a 'temporary loan modification' wherein the customer would get a reduced rate and go from P&I payments to interest only for the term of 6 months. Then the loan would automatically go back to the original terms. I don't really know what type of form to use? I found some loan mod agreements, but they are all for permanent modification. None allow me to option to go back to original terms after the 6 months. Anyone have any great ideas for me?

for this, I would put fingers to keyboard and write something. done it a few dozen times over the years ...

This is a question for your attorney. You are talking about a legal agreement.

Thanks for your help. I was told there was a standard form, but didn't find it and figured there wasn't one.

FWIW, we are doing a similar thing for a borrower, taking a loan from a 30-yr fixed at one rate to a 3-yr int only at a lower rate. What we are going to do is include in the new note (probably under "additional terms") langage that says at the end of the 3-yr int only period, bank will execute a second modification, returning the loan to P&I payments and extending the maturity another 36 months. Our system won't support it being done automatically, so we'll have to touch it again in 3 years.

"What we are going to do is include in the new note (probably under "additional terms") langage that says at the end of the 3-yr int only period, bank will execute a second modification, returning the loan to P&I payments and extending the maturity another 36 months."

Sounds like a refinance to me requiring all new TIL disclosures rather than a modification.