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Mortgage Professor about Promissory Note: 
Disclosure Rules on Mortgage Assumptions
February 19, 2001 "When I purchased my home two years ago, I assumed the mortgage of the seller. Recently I applied to refinance, and was told that I had to pay a $5,000 prepayment penalty. The loan documents I was given ... more...

Mortgage Prepayment Penalties
October 12, 2001, Revised November 17, 2004 What Is a Mortgage Prepayment Penalty? A prepayment penalty is a provision of your contract with the lender that states that in the event you pay off the loan entirely, you will pay a penalty. Penalties are usually expressed as a ... more...

Promissory Note related definitions

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 ... more...

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 ... more...

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Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Out of Credit Card Debt - Without Filing Bankruptcy
To be out of credit card debt is your dream and youre tired of the redundant advice to live within your means. Look no further.Most people that give advice about how to get out of debt, have absolutely no clue why things are the way they are. None of them have ever looked to the source of the ... more...

Set Aside Foreclosure and Decree and Motion for New Trial
Prove Up of the ClaimTo recover on a promissory note the Plaintiff (lender) must prove existence of the note.To recover on a promissory note, the plaintiff must prove:(1) the existence of the note in question;(2) that the party sued signed the note;(3) that the plaintiff is the owner or holder of ... more...

How To Create A Business Note That Is More Attractive To A Note Investor
You are selling your small business (business value under $1 million for this article). You would like the buyer of your business to come in with an all-cash offer, or be able to qualify for an SBA guaranteed loan. However, in many cases the owner of the business ends up taking back the ... more...

Mortgage Loans
A mortgage is a device used to create a lien on real estate by contract. The mortgage is an instrument that the borrower (called the mortgagor) uses to pledge real property to the lender (called the mortgagee) as security for a debt, also called hypothecation. The mortgage, as a rule, consists of ... more...

Hows and Do'nts of Structuring a Business Note for Sale
Every year thousands of business notes, which is a promissory note, are created when a seller of a business takes back some of the financing of the business sale. Another name for this is 'Seller Financing' of a business sale. The majority of business notes are associated with the sale of a small ... more...

How Do I Establish A Good Line of Credit?
A line of credit, roughly defined, is the amount of credit that can be given to a borrower from a lender. Usually a contract or note of promissory is exchanged between the two parties, in which both parties agree to the line of credit amount, as well as the annual interest due to the lender at the ... more...

Loans and Debt Consolidation Finance - Understand How Debt Consolidation Works
Debt consolidation reduces your interest rates and monthly payments so you can get a better handle on your credit. You can finance your consolidation through any of a number of lending companies. Once your promissory note is signed, pay off your accounts and focus on one monthly payment.The Goal Of ... more...

Way To Establish A Good Line of Credit
If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates and they may provide you with certain tax advantages unavailable with other kinds of loans. A line of credit, ... more...

Credit Card Debt Statute Of Limitation - What You Should Know
Each state has a statute of limitations on old credit card debts. The statute of limitations refers to the period after which, creditors cannot sue you to collect the debt. The length of time is calculated from your last payment date or last activity date (this is when you last used the card).Refer ... more...

How to Convert Your Real Estate Notes into Quick Cash
If youre a real estate investor needing quick cash, selling your notes could offer a fast, easy solution. It can happen to anyone. You find yourself in a situation where you need a chunk of cashinstantly. Maybe you have to handle an emergency or simply want to free up funds to invest elsewhere. ... more...

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