Mortgages and Deeds of Trust. The purpose of the mortgage or deed of trust is to provide security for the loan that is evidenced by a promissory note. note selling tips. What is a non-performing note? How will selling my mortgage note affect the payer? What costs are involved to the note seller? What size mortgage notes do investors typically buy?
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The lender holds the promissory note while the loan is outstanding. When the loan is fully paid off, the note will be marked as paid in full and returned to the borrower. Mortgages and Deeds of Trust. The purpose of the mortgage or deed of trust is to provide security for the loan that is evidenced by a promissory note.
A mortgage loan or, simply, mortgage is used either by purchasers of real property to raise.. It is advisable to maintain the same employment and not to use or open new credit during the underwriting process.. involves two separate documents: the mortgage note (a promissory note) and the security interest evidenced by.
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