legal instruments protect my loan? Or what documents do I receive?
- When you loan money
- you will always receive the following documents.
- 1) A copy of the
- mortgage. The original will be recorded on the land records and this
- must be paid off before the property is ever sold.
- 2) An original
- Promissory Note. This keeps me on the hook financially for the loan
- if something bad were to ever happen to me.
- 3) A hazard
- insurance endorsement naming you as mortgagee. This document protects
- you in case of a fire, water damage, etc.
- These documents
- provide you with the security you need and the return which you
- desire. You will receive the same documents every time you make a
- loan on a property. We make sure that all of our investors are
- protected on every transaction.