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No matter, you think, I’ll just go look up the people who owned the note secured by … such as having an IRS lien (and they are so much fun to deal with) against the property that must be paid off …
Promissory Notes – Secured by a lien of a deed of trust or mortgage You’ve decided to be a Real Estate INVESTOR without the headache of actually owning property. This usually means you’re going to provide funding for someone else to buy property and the property will serve as security for your loan, OR…..
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Promisor: A promisor is the person who makes a promise. In the context of a promissory note, the promisor is the person who promises to repay the loan or obligation secured by the note. The promisor may also be called the payor or the obligor.
Jun 24, 2008 · a promissory note, in and of itself, is not a lien on property. in order to be a lien, there must be something that is filed on record. so, if there is a mortgage, the mortgage establishes he lien that secures the note. if someone owes money on a promissory note and it is default, you may be able to obtain a lien against the property after court action.
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Most new investors in active real estate start with a traditional method … In exchange for the money, the lender has them sign a promissory note and a mortgage. A promissory note, often just …
Ideally, we’d like to see the lender mail you back your original promissory note you signed along with the original mortgage …