Category: Note


You may hear your lender ask about the Note, or if you reviewed the Note. The Note, in this sense, is not a musical score, or something written on a post-it; it is the Promissory Note entered into between the lender and the borrower. It provides that the lender will lend a certain sum to the borrower in exchange for the borrower’s promise to pay the lender over time at a certain amount of interest. Example: A lender may lend $200,000 to the borrower to be paid on the first of every month over 30 years at an interest rate...

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