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A mortgage note is one of many closing documents a borrower signs when closing on a home loan. In simplest terms, it represents the mortgage for a given borrower. In technical terms, a mortgage ...
A mortgage statement is a document containing the latest details about your loan, including your monthly payment. The law requires your mortgage lender or servicer to send you statements for each ...
While you can discard monthly mortgage statements, it's important to keep all mortgage documents, such as the promissory note, deed of trust and proof of title insurance, for the life of the loan ...
In the United States, a mortgage note (also known as a real estate lien note, borrower's note) is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise.
A closing disclosure is a legally-required, five-page statement of your final mortgage loan terms and closing costs. It contains details about your loan term, monthly payments, fees and other ...
A mortgage servicer is the company that handles your mortgage statements and all day-to-day tasks related to managing your loan after it closes. For example, the servicer collects your payments ...
Check your mortgage statement: Start by checking your monthly mortgage statement. The statement usually includes information about your loan servicer, the company that collects your payments.
The lender gets cash for selling the mortgage note, allowing it to use the capital to write another loan. The lender may retain the right to service the mortgage, a service for which it receives a ...