Definitions
from The Century Dictionary.
- noun A note the payment of which is secured by a mortgage given at the same time and recited in the note. Its effect is to hold the borrower liable for the deficiency if the mortgaged property does not satisfy the debt. The term bond is also used.
Etymologies
Sorry, no etymologies found.
Support
Help support Wordnik (and make this page ad-free) by adopting the word mortgage-note.
Examples
-
Small Business Administration to use its 504 program to commence refinancing commercial properties when a small-business borrower has a balloon mortgage-note coming due.
Jerry Chautin: New Refinancing Program May Help Stem a Pending Foreclosure Disaster Jerry Chautin 2010
-
Small Business Administration to use its 504 program to commence refinancing commercial properties when a small-business borrower has a balloon mortgage-note coming due.
Jerry Chautin: New Refinancing Program May Help Stem a Pending Foreclosure Disaster Jerry Chautin 2010
-
"consider lowering the mortgage-note amount to the current value of properties and lower the payments," Buchsbaum said.
RISMedia 2008
Comments
Log in or sign up to get involved in the conversation. It's quick and easy.