Can anyone buy a mortgage note?
What is the original mortgage note?
A mortgage note is a legal document that sets out all the terms of the mortgage between the borrower and the lending institution. It includes terms such as: The total amount of the home loan. The…
Can a borrower be on the note but not on title?
Can someone sell a house if your name is on the deed?
You can only sell the property without the consent of your spouse (this includes civil partnerships) if it is not a joint property. If you are the only person named on the official…
Can you get a mortgage with a trust deed?
What are the disadvantages of a trust?
One of the weaknesses of Trust is that Trust is very difficult to understand. Historically, trusts use language that is specific to the legal field. For non-believers and real estate lawyers, it…
How do you sell a mortgage note?
Can promissory notes be sold?
Debentures and titles can be sold. Whoever owns the debenture can sell it. Lenders usually sell promissory notes when they no longer want to be responsible for the loan or they need a lump sum of cash.
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What happens when a deed of trust is paid off?
How do I get my title after paying off my mortgage?
The title to your house needs to be cleared. Once you have repaid your mortgage, the mortgage should be removed from the title of your home. The mortgage company will charge you to…
Does a mortgage note commit you to paying your loan?
Can you be on the note but not the mortgage?
But just because they're in a mortgage doesn't mean they're in a bond. For example, it can often happen that one spouse has bad credit, so they are not on bond (lenders sometimes say they…
Can my wife be on the title but not the mortgage?
What is a co-borrower? A co-borrower is any additional borrower whose income, assets and credit history are used to qualify the loan and whose name appears on the loan documents. For example, your husband could be the co-borrower on your…
Can you sell a house with a deed of trust?
A Declaration of Trust does not override a Will. The Declaration of Trust will set out your interest in the property but the Will will set out what will happen to your interest in the property after you have died.
What is the purpose…
What if my lender Cannot produce the note?
Where are promissory notes recorded?
Unlike a deed of trust or mortgage, a promissory note is usually not recorded in the county land registry (except in a few states like Florida). . Instead, the borrower holds this document until the…
Is the note the same as the deed of trust?
When the borrower pays off the mortgage, the note holder gives the note to the borrower. This means that the home is theirs, free and clean. If a borrower refinances a mortgage, the new mortgage pays off the original lender and a new…