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Mortgage Note
Can a home equity loan can be risky because the lender can foreclose if you don’t make your…
In which scenario do most homeowners use the equity?
Home Improvement The most commonly cited way to use a home equity loan is to put that money towards home repair or improvements, whether they are necessary, such as replacing a leaky…
What document itemizes closing costs?
Which part of a closing disclosure details the total amount of all payments on the loan the dollar amount of the finance charges over the life of the loan?
The Finance Charge tells you the total amount of interest and loan fees you…
Which of these is the best way to prevent foreclosure?
Is reinstatement an alternative to foreclosure?
Mortgage repossession provides an opportunity to avoid foreclosure. Instead, you can catch up on your payments and cover any late mortgage repayment fees by paying the total amount that…
What are the steps of the closing process in the right order?
What is the purpose of the closing process in accounting?
Understanding Closing Entries The purpose of closing entries is to reset the temporary account balances to zero on the general ledger, the record-keeping system for a company's…
What to do when a promissory note is paid off?
What is true about a promissory note?
A promissory note is a debt instrument that contains a written promise by one party (the issuer or maker of the note) to pay another party (the payee of the note) a definite sum of money, either on…
What happens if you default on a promissory note?
Does a promissory note affect your credit?
Failure to pay promissory notes can affect a borrower's credit rating if the promissory note holder has the ability to report the deficiency to various credit reporting agencies.
Is a…
Is the note the same as the deed of trust?
Can a deed of trust be changed?
Can Declaration of Conformity be changed? While a Notice of Acceptance cannot be amended, additional Notices of Acceptance can be made. This changes the terms of the original document. It refers to the…
Does a co borrower need to be on title?
What is more important: title or certificate? Both the title and the deed are of equal importance as they both have a purpose in the home selling process. For example, a title search can not only confirm who owns the property, but also…
What does it mean if I am on the mortgage but not the deed?
If your name is on the deed but not on the mortgage, your position is actually advantageous. The names on the deed of a house, not the mortgage, indicate ownership. It is the act that transfers the ownership of real estate from one entity…
What if my lender Cannot produce the note?
What happens if I dont pay my promissory note?
What Happens If the Guarantee Is Not Paid? Promissory notes are legally binding documents. A person who defaults on a loan specified in a promissory note may lose the property that secures…