Mortgage Note
Mortgage Note
A written negotiable promise (agreement) to pay a sum of money plus interest at a set interest rate. The note is secured by a mortgage. In turn, mortgage is secured by property.
Mortgage note states the amount of debt and the rate of interest, and makes the ...
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Untitled Document
Defereed
Interest
When
a mortgage
is written with a monthly
payment that is less than required to satisfy the note
rate, the unpaid interest is deferred
by adding it to the loan balance. See negative
...
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