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Promissory Note – Professional Escrow Resources

Promissory Note

A Promissory Note is a “promise to pay” made by a “Payor” (Borrower) to a “Payee” (Lender). In real estate, this is usually secured by a Deed of Trust. Docprepper.com specializes in Notes and Deeds of Trust!

A Promissory Note is an official version of an “IOU”, and describes the terms of repayment for a loan. Details such as the interest rate, term of the loan, and late fees are all spelled out in the Promissory Note. These documents are legally binding when properly prepared and executed. Promissory Notes can be secured or unsecured by collateral. In real estate, the Promissory Note is usually secured by a Deed of Trust, which is then recorded as a lien against the property. Docprepper.com will help you to prepare your Promissory Note according to the terms you define. Simply answer a few questions and we can prepare your Note so it reflects your wishes. If you want the Note secured by a Deed of Trust, we can do that too! Our Note and Deed of Trust package is perfect for investors, family loans, etc.

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2019-02-15T18:55:38+00:00