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what is the difference between a note on a home and a morgage.

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calhouns15 Joined: 21 Aug 2009 Posts: 1 1.29 Dollars($)	Posted: Fri Aug 21, 2009 12:56 pm    Post subject: what is the difference between a note on a home and a morgag Like 0 Dislike 0 During a divorce, the wife obtained a note on the home without the husband signature. The house morgage and ownership is written with and oppose to or. How is it possible that one could obtain a note on the home without the others consent when an existing morgage is on the home? What is the difference between a note and a morgage?
sunnyca2009 Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)	Posted: Sun Sep 20, 2009 9:40 pm    Post subject: Like 0 Dislike 0 Note and Mortgage are borrowers obligations. Note requires monetary payment only a mortgage create lot of ther obligations to the lender. The keep the property the borrower need to be current on the insurace and taxes If the borrower defults on any of them the lender may ask the borrower to pay the rest of the money to protect his interest

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