A promissory note, also known as a mortgage note, holds real estate as its collateral. The note, for short, details exactly how, when, and where a borrower will make payments and explains different payment default scenarios and potential outcomes. One of those outcomes if the note is secured by real estate is foreclosed on that collateral if a default occurs.
Before We Build Another House, Let’s Ask Ourselves an Important Question
There’s a growing drumbeat in the industry right now: in many markets, it’s cheaper to build new...
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