{"id":3318,"date":"2023-02-03T09:47:08","date_gmt":"2023-02-03T09:47:08","guid":{"rendered":"https:\/\/heideinternati.wpengine.com\/?page_id=3318"},"modified":"2023-04-26T19:48:33","modified_gmt":"2023-04-26T19:48:33","slug":"faillites-forclusions-divorce-6","status":"publish","type":"page","link":"https:\/\/heideinternational.com\/fr\/faillites-forclusions-divorce-6\/","title":{"rendered":"What\u2019s The Difference Between A Mortgage And A Promissory Note"},"content":{"rendered":"<div data-elementor-type=\"wp-page\" data-elementor-id=\"3318\" class=\"elementor elementor-3318\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8faa9e9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8faa9e9\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8ea94e4\" data-id=\"8ea94e4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0788fe0 elementor-widget elementor-widget-heading\" data-id=\"0788fe0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">What\u2019s The Difference Between A Mortgage And A Promissory Note<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-05f0f5b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"05f0f5b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-392c6f2\" data-id=\"392c6f2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3f6c190 elementor-widget elementor-widget-video\" data-id=\"3f6c190\" data-element_type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/youtu.be\\\/guJ3SIxK1ik&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65fa554 elementor-widget elementor-widget-text-editor\" data-id=\"65fa554\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Simply put, a mortgage is a lien on your home, it\u2019s placed on the property by a lender when you borrow money to buy your home. A promissory note (mortgage note) is a written agreement containing the details of the\u00a0mortgage loan.<\/strong><\/p><p>You are referred to as the Mortgagor because you give your home to the lender as collateral. The lender is called the Mortgagee as they are receiving your home as collateral. This \u201csecuritizes\u201d the lender against your default on the loan.<\/p><p>In other words, the Mortgagee can take the house if you stop making the loan payments. The mortgage note lays out the conditions of the agreement, like maintenance of the property, payment of real estate taxes and property insurance. Also, you can\u2019t transfer ownership of the property without paying off the lien.<\/p><p>Many times, people confuse the mortgage with the note. The note further lays out the terms of repayment and when the lien will be released. The note identifies the interest rate, how many payments you need to make, (term) and the actual monthly loan payment, as well as any other conditions which you, the mortgagor has agreed to, like prepayment penalties\u2019 rate adjustments, or balloon payments, etc. So that\u2019s the difference between a mortgage and a note.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>What\u2019s The Difference Between A Mortgage And A Promissory Note Simply put, a mortgage is a lien on your home, it\u2019s placed on the property by a lender when you borrow money to buy your home. A promissory note (mortgage note) is a written agreement containing the details of the&nbsp;mortgage loan. You are referred to [&hellip;]<\/p>","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-3318","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Difference Between A Mortgage And A Promissory Note?<\/title>\n<meta name=\"description\" content=\"Many times, people confuse the mortgage with the note. 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