Is a promissory note required for mortgage?

Answer 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 »

Top Q&A For: Is a promissory note required for mortgage

Are a mortgage and a promissory note the same?

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 »

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 Sue Over a Promissory Note?

A promissory note is a simple contract between two parties for repayment of a loan. If you lend money to another party and he chooses not to pay, you have the right to sue him in court to get your ... Read More »

What is a promissory note?

A promissory note is a promise to repay a debt, according to The note details the date that payments are due, along with specific terms agreed upon by the parties involved.The Basics... Read More »