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Mortgage Note Definition

Mortgagee definition is – a person to whom property is mortgaged. Time Traveler for mortgagee. The first known use of mortgagee was in 1584. See more words from the same year

In the United States, a mortgage note (also known as a real estate lien note, borrower’s note) is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise.

Amortization Of Prepayments Prepayment: A prepayment is the settlement of a debt or installment payment before its official due date. A prepayment can either be made for the entire balance of a liability or for an upcoming.

Mortgage notes are a type of promissory note that details repayment of a loan used to purchase real estate. This legal document describes the amount of the loan and terms of repayment, including duration and interest rate.

Define Mortgage note. Mortgage note synonyms, Mortgage note pronunciation, Mortgage note translation, English dictionary definition of Mortgage note. n. 1. A loan for the purchase of real property, secured by a lien on the property. 2. The document specifying the terms and conditions of the repayment of.

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Mortgage: A mortgage is a debt instrument , secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages.

Definition of MORTGAGE NOTE: As a part of a mortgage agreement this type of promissory note states the loan’s amount and duration, the applicable interest rate, and makes the The Law Dictionary Featuring Black’s Law Dictionary Free Online Legal Dictionary 2nd Ed.

mortgage note: Note that offers a mortgage as proof of a debt and describes the terms under which the mortgage is to be repaid.

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A promissory note, also know as a mortgage note, is a written agreement that outlines exactly how, when and where a borrower will make his mortgage payments. The document is among the most important.

Definition of mortgage note: Promissory note that (as a part of a mortgage agreement) states the amount and duration of loan, the applicable rate of interest, and makes the signatory personally liable for repayment of the full.

Mortgage definition, a conveyance of an interest in property as security for the repayment of money borrowed. See more.

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