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Debts and Credit » Promissory Notes Legal Questions & Answers

Category: Debts and Credit » Promissory Notes
Can I put a lien on a home for the promissory Note I am holding as the mortgage? I have a promissory note in the amount of $78,000 that the parties to the note are not paying. This note represents a loan that was to pay for their home mortgage loan. Can I put a lien on the home and how do I go about it? 01/04/2007 \| Category » Promissory Notes State » FL #113

Is a promissory note a binding document? Is a promissory note a binding document? 01/05/2007 \| Category » Promissory Notes State » AL #176

What forms are needed to secure money loaned for a second mortage? I need a form for a second mortgage for my daughter's home who already has a mortgage. I plan to give her the money but want to protect myself in case of a divorce. 03/28/2007 \| Category » Promissory Notes State » TX #2280

What type of promissory note do I need where the repayment is secured with property? What type of promissory note do I need where the repayment is secured with property? 03/28/2007 \| Category » Promissory Notes State » FL #2273

Where can I find a construction loan form? Where can I find a construction loan form. I am loaning the funds. 04/05/2007 \| Category » Promissory Notes State » ID #2679

How Should I Give A Loan to My Son to Avoid Tax Problems? We are about to loan our son $5000 for a down payment on a property in Kingston, OH (Ross county) We want to use a promissory note for the loan. We don't want to charge him interest. We simply want him to pay us back in monthly payments of $100 until paid. I have read that thi... 06/30/2009 \| Category » Promissory Notes State » OH #17258

Where can I find a form to renew or extend a Note secured by a Deed of Trust? I need to extend or renew a note secured by a deed of trust that became due 4-1-07. What is the correct form I need to use? And can I find this form on your website? 04/11/2007 \| Category » Promissory Notes State » CA #2969

Can a personal lender require interest on a loan if the note did not provide for it? A relative needed to borrow money (several thousand dollars) for equipment for his business. A friend of his insisted on loaning it to him so he wouldn't have to go thru a bank and pay a bunch of interest. He didn't care how long it took to get his money back and since my relat... 05/15/2007 \| Category » Promissory Notes State » IA #4875

Securities were originally regulated only at the state level. However the 1929 Stock Market c... Are there any state or federal laws that regulate the buying and selling of promissory notes linked to businesses? 08/20/2007 \| Category » Promissory Notes State » ALL #8074

Is an undated promissory note legal? Is an undated promissory note legal? 02/07/2009 \| Category » Promissory Notes State » NY #15186

How do I file a lawsuit for default of promissory note? After I notify borrower of default on promissory note, I want to file in court. Please send me information on how to file this claim myself? Total owed is $32,000.00. 03/16/2009 \| Category » Promissory Notes State » HI #15650

What is the best means to payoff my mother's home and still protect my assets? I need to know which form(s) are appropriate for the following situation: My aging mother owes $19,000 on a home loan at 9%. Home value $125,000. I can reduce her monthly expenses by refinancing her loan (which likely requires me to co-sign) to a lower rate or I pay off her loa... 06/02/2009 \| Category » Promissory Notes State » AZ #16848

How do I legally encumber the equity in a property for the benefit of the private party lender? I live in MD and own a property in CA. The CA property has a private party loan against it, with a 'Promissory Note Secured by Deed of Trust'. A 'Short Form Deed of Trust and Assignment of Rents' is recorded. The promissory note itself is not recorded. (I don't believe it is requ... 04/13/2009 \| Category » Promissory Notes State » MD #15974

What type of promissory note is needed and should it be notarized to secure money loaned? My daughter who lives in Wyoming is in the process of getting a divorce. I loaned her $7,000.00 to help her 'get on her feet' and $12,000.00 to buy a car. She titled the car in my name using her Wyoming address. Her divorce will soon be final and I want to transfer the Wyoming ca... 04/13/2009 \| Category » Promissory Notes State » TX #15976

What type of form is needed to secure money loaned by a contractor for a homeowner's project? A contractor agrees to provide self funding for a project that will cost the homeowner $20,000 with a $7,000 deposit. The builder will finance, out of his pocket, the remaining $13,000 over a period of 6 years. What protection can the builder have that the homeowner will not sel... 04/20/2009 \| Category » Promissory Notes State » PA #16054

What goes in the first blank of a promissory Note? The first line of a guaranty promissory note it states.'IN CONSIDERATION of and in order to induce ________ to enter into those certain Promissory note, copies of which are attached hereto and made a part hereof for all purposes. WHAT GOES IN THE FIRST BLANK? 04/27/2009 \| Category » Promissory Notes State » ALL #16160

I have a Promissory Note and believe my property is being sold to pay it off I have a promissory note with an investment company in California and I opted for a 6 month payment penalty for early redemption. They replied that the segregated security regarding my investment has been submitted for sale and the proceeds awaited. What does this mean please? 04/28/2009 \| Category » Promissory Notes State » CA #16301

Is there a statute of limitations to collect for repayment of a loan? I loaned a friend $15,000 five and a half yrs ago with repayments to commence September of 2006 at a min of $250/month. She paid back a total of $2500 from September of 2006 thru March of 2007 then stopped due to financial problems. Can I sue her even tho the original loan is mor... 04/28/2009 \| Category » Promissory Notes State » ALL #16317

Can my personal lender now require I pay the default rate of interest? A residential mortgage note was signed in November of 1998 for a primary residential loan. The terms were $131,000, 8% fixed rate with a amortization of 15 years. The note had a 'call' in 24 months with the balance due. The lien holder (individual not institutional lender) has ... 04/28/2009 \| Category » Promissory Notes State » ALL #16348

Can a creditor report a promissory note on a ballon payment as bad debt? We sent a promissory note and tender of payment with a balloon payment at a future date. Can a creditor report this to credit agencies as a bad debt? If not what recouse do we have to restore our credit? 04/29/2009 \| Category » Promissory Notes State » ALL #16402

Can my creidt be ruined after sending a promissary note and payment of legal tender? After sending a promissary note and payment of legal tender can they ruin our credit? 04/29/2009 \| Category » Promissory Notes State » ALL #16411

Where can I find a form stating the issuance of non-voting shares and terms of pay back for a loan? My sister's business in CA invested $10,000 US in my husband's business. I need a contract stating the issuance of non-voting shares and terms of pay back. 04/29/2009 \| Category » Promissory Notes State » AZ #16474

If I send a promissory note and payment of legal tender can my credit still be ruined? After sending a promissory note and payment of legal tender, can our credit still be ruined by this? 05/05/2009 \| Category » Promissory Notes State » ALL #16582

Is a promissory note for rent owed enforceable? My tenants are moving out June 8 and are a few months behind on rent and are requesting to use their security deposit for a month and a half rent. They requested to remodel the bathroom because the husband was in that line of work in lieu of paying 100.00 extra a month for their... 05/19/2009 \| Category » Promissory Notes State » NJ #16709

What legal forms are needed to consolidate my two home loans into one? I have 2 separate home loans with my parents and I would like to consolidate both loans into one loan at a new fixed annual rate of 4.5%. I currently have a Mortgage (Wisconsin Form 6-S) and Fixed Rate Mortgage Note (Wisconsin Form 6-N) in place for the 2 loans noted. What le... 05/31/2009 \| Category » Promissory Notes State » WI #16832

Category: Debts and Credit » Promissory Notes
Can I put a lien on a home for the promissory Note I am holding as the mortgage? I have a promissory note in the amount of $78,000 that the parties to the note are not paying. This note represents a loan that was to pay for their home mortgage loan. Can I put a lien on the home and how do I go about it? 01/04/2007 \| Category » Promissory Notes State » FL #113

Is a promissory note a binding document? Is a promissory note a binding document? 01/05/2007 \| Category » Promissory Notes State » AL #176

What forms are needed to secure money loaned for a second mortage? I need a form for a second mortgage for my daughter's home who already has a mortgage. I plan to give her the money but want to protect myself in case of a divorce. 03/28/2007 \| Category » Promissory Notes State » TX #2280

What type of promissory note do I need where the repayment is secured with property? What type of promissory note do I need where the repayment is secured with property? 03/28/2007 \| Category » Promissory Notes State » FL #2273

Where can I find a construction loan form? Where can I find a construction loan form. I am loaning the funds. 04/05/2007 \| Category » Promissory Notes State » ID #2679

How Should I Give A Loan to My Son to Avoid Tax Problems? We are about to loan our son $5000 for a down payment on a property in Kingston, OH (Ross county) We want to use a promissory note for the loan. We don't want to charge him interest. We simply want him to pay us back in monthly payments of $100 until paid. I have read that thi... 06/30/2009 \| Category » Promissory Notes State » OH #17258

Where can I find a form to renew or extend a Note secured by a Deed of Trust? I need to extend or renew a note secured by a deed of trust that became due 4-1-07. What is the correct form I need to use? And can I find this form on your website? 04/11/2007 \| Category » Promissory Notes State » CA #2969

Can a personal lender require interest on a loan if the note did not provide for it? A relative needed to borrow money (several thousand dollars) for equipment for his business. A friend of his insisted on loaning it to him so he wouldn't have to go thru a bank and pay a bunch of interest. He didn't care how long it took to get his money back and since my relat... 05/15/2007 \| Category » Promissory Notes State » IA #4875

Securities were originally regulated only at the state level. However the 1929 Stock Market c... Are there any state or federal laws that regulate the buying and selling of promissory notes linked to businesses? 08/20/2007 \| Category » Promissory Notes State » ALL #8074

Is an undated promissory note legal? Is an undated promissory note legal? 02/07/2009 \| Category » Promissory Notes State » NY #15186

How do I file a lawsuit for default of promissory note? After I notify borrower of default on promissory note, I want to file in court. Please send me information on how to file this claim myself? Total owed is $32,000.00. 03/16/2009 \| Category » Promissory Notes State » HI #15650

What is the best means to payoff my mother's home and still protect my assets? I need to know which form(s) are appropriate for the following situation: My aging mother owes $19,000 on a home loan at 9%. Home value $125,000. I can reduce her monthly expenses by refinancing her loan (which likely requires me to co-sign) to a lower rate or I pay off her loa... 06/02/2009 \| Category » Promissory Notes State » AZ #16848

How do I legally encumber the equity in a property for the benefit of the private party lender? I live in MD and own a property in CA. The CA property has a private party loan against it, with a 'Promissory Note Secured by Deed of Trust'. A 'Short Form Deed of Trust and Assignment of Rents' is recorded. The promissory note itself is not recorded. (I don't believe it is requ... 04/13/2009 \| Category » Promissory Notes State » MD #15974

What type of promissory note is needed and should it be notarized to secure money loaned? My daughter who lives in Wyoming is in the process of getting a divorce. I loaned her $7,000.00 to help her 'get on her feet' and $12,000.00 to buy a car. She titled the car in my name using her Wyoming address. Her divorce will soon be final and I want to transfer the Wyoming ca... 04/13/2009 \| Category » Promissory Notes State » TX #15976

What type of form is needed to secure money loaned by a contractor for a homeowner's project? A contractor agrees to provide self funding for a project that will cost the homeowner $20,000 with a $7,000 deposit. The builder will finance, out of his pocket, the remaining $13,000 over a period of 6 years. What protection can the builder have that the homeowner will not sel... 04/20/2009 \| Category » Promissory Notes State » PA #16054

What goes in the first blank of a promissory Note? The first line of a guaranty promissory note it states.'IN CONSIDERATION of and in order to induce ________ to enter into those certain Promissory note, copies of which are attached hereto and made a part hereof for all purposes. WHAT GOES IN THE FIRST BLANK? 04/27/2009 \| Category » Promissory Notes State » ALL #16160

I have a Promissory Note and believe my property is being sold to pay it off I have a promissory note with an investment company in California and I opted for a 6 month payment penalty for early redemption. They replied that the segregated security regarding my investment has been submitted for sale and the proceeds awaited. What does this mean please? 04/28/2009 \| Category » Promissory Notes State » CA #16301

Is there a statute of limitations to collect for repayment of a loan? I loaned a friend $15,000 five and a half yrs ago with repayments to commence September of 2006 at a min of $250/month. She paid back a total of $2500 from September of 2006 thru March of 2007 then stopped due to financial problems. Can I sue her even tho the original loan is mor... 04/28/2009 \| Category » Promissory Notes State » ALL #16317

Can my personal lender now require I pay the default rate of interest? A residential mortgage note was signed in November of 1998 for a primary residential loan. The terms were $131,000, 8% fixed rate with a amortization of 15 years. The note had a 'call' in 24 months with the balance due. The lien holder (individual not institutional lender) has ... 04/28/2009 \| Category » Promissory Notes State » ALL #16348

Can a creditor report a promissory note on a ballon payment as bad debt? We sent a promissory note and tender of payment with a balloon payment at a future date. Can a creditor report this to credit agencies as a bad debt? If not what recouse do we have to restore our credit? 04/29/2009 \| Category » Promissory Notes State » ALL #16402

Can my creidt be ruined after sending a promissary note and payment of legal tender? After sending a promissary note and payment of legal tender can they ruin our credit? 04/29/2009 \| Category » Promissory Notes State » ALL #16411

Where can I find a form stating the issuance of non-voting shares and terms of pay back for a loan? My sister's business in CA invested $10,000 US in my husband's business. I need a contract stating the issuance of non-voting shares and terms of pay back. 04/29/2009 \| Category » Promissory Notes State » AZ #16474

If I send a promissory note and payment of legal tender can my credit still be ruined? After sending a promissory note and payment of legal tender, can our credit still be ruined by this? 05/05/2009 \| Category » Promissory Notes State » ALL #16582

Is a promissory note for rent owed enforceable? My tenants are moving out June 8 and are a few months behind on rent and are requesting to use their security deposit for a month and a half rent. They requested to remodel the bathroom because the husband was in that line of work in lieu of paying 100.00 extra a month for their... 05/19/2009 \| Category » Promissory Notes State » NJ #16709

What legal forms are needed to consolidate my two home loans into one? I have 2 separate home loans with my parents and I would like to consolidate both loans into one loan at a new fixed annual rate of 4.5%. I currently have a Mortgage (Wisconsin Form 6-S) and Fixed Rate Mortgage Note (Wisconsin Form 6-N) in place for the 2 loans noted. What le... 05/31/2009 \| Category » Promissory Notes State » WI #16832

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