You don’t have to have a legal degree to write basic contractual agreements, such as a promissory note. In fact, all you really need is a word processing program and the names of all parties involved. What most people don’t realize is that a contract doesn’t need to contain legalese in order to be binding […]
Tag Archives: Promissory Note
What is unsecured debt? There are different forms of debt. A ‘secured debt’ is a debt owed on property (of course a secured debt), unlike a secured debt (say a mortgage), which gives the creditor the right to obtain your property to satisfy your debts if you default. In an uncollected debt, the only recourse […]
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A legal document known as a mortgage note outlines the exact payment arrangements of a mortgage note. Another name for this document is promissory note, private mortgage, private mortgage note, or even just note or IOU. The promissory note will give detailed information about the monies owed which were borrowed from the seller minus any […]