Real Estate Law
Have Real Estate Law Questions? Ask a Real Estate Lawyer.
That is correct. She wants to but is afraid the house may be taken before it is sold
I don't see faces or stars!!
Hello? Are you still there? My reply --That is correct. She wants to but is afraid the house may be taken before it is sold. Unfortunatelly they are looking at a divorce too. I don't see faces or stars below!!
Ok. If I signout now and later need more information, will I also have to pay an additional fee?
One more thing (thus far), do I need to have a "Terms of the Mortgage note" when I file the Secured Promissory Note with the court?
FOR VALUE RECEIVED, the undersigned promise(s) to pay to
the principal sum of
DOLLARS ($ )
and interest from on the balance of principal remaining from time to
time unpaid at the rate of per cent per annum, such principal sum and
interest to be payable in installments as follows:
DOLLARS ($ ) on the day of , 20 ,
and DOLLARS ($ )
on the day of each and every month thereafter until this Note is fully paid, except that the
final payment of principal and interest, if not sooner paid, shall be due on the day of
, 20 . All such payments on account of the indebtedness evidenced by this
Note shall be applied first to accrued and unpaid interest on the unpaid principal balance and the
remainder to principal.
Payments are to be made at
, or at such other place as the legal holder of this Note may from time
to time in writing appoint.
And to secure the payment of said amount, the undersigned hereby authorizes, irrevocably,
any attorney of any Court of Record to appear for the undersigned in such Court, in term time or
vacation, at any time after maturity, and confess a judgment, without process, in favor of the holder
of this Note, for such amount as may appear to be unpaid thereon, together with reasonable costs
of collection, including reasonable attorney’s fees and to waive and release all errors which may
intervene in any such proceedings, and consent to immediate execution upon such judgment,
hereby ratifying and confirming all that said attorney may do by virtue hereof.
At the option of the legal holder hereof and without notice, the principal sum remaining
unpaid hereon, together with accrued interest thereon, shall become at once due and payable at
the place of payment aforesaid in case default shall occur in the payment, when due, of any
installment of principal or interest in accordance with the terms hereof.
All parties hereto severally waive presentment for payment, notice of dishonor, protest and
notice of protest.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).