Real Estate Glossary

The following are some common real estate terms you may run across during the process of buying or selling your home.

Mortgage note (also none as Promissory N

Mortgage note (also none as Promissory Note or Note) A written agreement to repay a loan. The agreement is secured by a mortgage, serves as proof of an indebtedness, and states the manner in which it shall be paid. The note states the actua l amount of the debt that the mortgage secures and renders the mortgagor personally responsible for repayment.

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