What is mortgage note :-

The mortgage note is known as a real estate note, promissory note, etc. It is a written promise. According this we have to pay money plus interest after a specified time. If you sign mortgage note then you have to pay money in a periodically order.

Types of mortgage note :-

Fixed-rate mortgage Graduated Payment Mortgage (GPM) Adjustable-rate mortgage (ARM) Balloon payment mortgage Interest-only loan Negative amortization

Why promissory note is important :-

The mortgage note is very important note. If you deal in real estate. And you want money by buyer after a specified time duration, then you have to sign a mortgage note with the buyer. This is promised by buyer. According this promissory note buyer pay you money after a specified time duration.

Risks of mortgage note :-

There are some risk of the mortgage note :- Credit Risk. Interest rate risk Prepayment risk, etc.

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