Is a promissory note secured or unsecured?
Secured Promissory Note is a note in which the borrower’s promise to pay a certain amount is backed up by certain specified property (called “collateral” such as in a Mortgage). If the borrower does not repay, ONLY the original lender can take the collateral in foreclosure pursuant to law, but Judges go by what the Foreclosing ATTORNEY Read more about Is a promissory note secured or unsecured?[…]