What is a mortgage note?

Answer A mortgage note is a legal document that represents your promise to repay your home loan. The note and mortgage together represent your mortgage debt and the lender's security interest in the prope... Read More »

Top Q&A For: What is a mortgage note

Mortgage Note Vs. Mortgage Amortization?

Owning a home is a big part of the American Dream. A mortgage is a requirement for most home purchases. Unfortunately, while most people know the most basic information about home loans, much of th... Read More »

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 »

What is the note of a house for a mortgage?

The mortgage note for a house is the actual legal agreement between the owner of the home and the lender for the mortgage. The document, or note, pledges the house as collateral if the owner defaul... Read More »

Is a Second Mortgage Considered a Promissary Note?

A second mortgage is not a promissory note, but it's usually attached to one. When you take out a second mortgage, you sign a promissory note agreeing to the lender's terms for paying back the loan... Read More »