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Mortgage Terms: Note Definition

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Mortgage Terms: Note Definition

Note

Definition

A document that evidences a debt and a promise to repay.

A mortgage loan transaction always includes both a note evidencing the debt, and a mortgage evidencing the lien on the property, usually in two documents.

Related Terms

Other terms related to 'Note' starting with the letter 'N'

Nichification, No asset loan, Negative points, No ratio loan, Net jumping

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