Are a mortgage and a promissory note the same?

Answer A promissory note is one of the documents required for a mortgage, but it is not the same as a mortgage. A mortgage is a loan secured by real estate property. The promissory note is the loan docume... Read More »

Top Q&A For: Are a mortgage and a promissory note the same

Is a promissory note required for mortgage?

A promissory note, a written promise to repay a loan or debt under specific terms, is not required for a mortgage. However, they work together in a mortgage agreement. A mortgage document pledges o... Read More »

Is a promissory note a promissory estoppel?

Promissory estoppel is not a promissory note. Promissory estoppel occurs when a person relies on a promise and has an economic detriment due to the reliance on the promise. Due to the reliance on t... Read More »

How to Collect on a Promissory Note?

A promissory note is a binding document signed by a borrower who is agreeing to repay any monies borrowed, with interest. A promissory note will state both the lender's and buyer's rights and respo... Read More »

How to Write a Promissory Note?

A promissory note is a written agreement to repay a debt. Sometimes referred to as a note, this document is legally enforceable. Taking the time to learn how to write a promissory note, or write an... Read More »