Mortgage clauses - PowerPoint PPT Presentation

CHAPTER TWO

CHAPTER TWO. FINANCING: NOTES AND MORTGAGES. Chapter Objectives. Define the mortgage note Define and explain the mortgage Identify the different mortgage clauses Explain and identify what constitutes mortgage default and foreclosure. Chapter Objectives Continued.

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CHAPTER TWO

CHAPTER TWO. FINANCING: NOTES AND MORTGAGES. The Mortgage Instrument. A mortgage is created when one party pledge s real property to another party as security (collateral) Mortgagor and Mortgagee A Promissory Note is normally issued together with the mortgage Obligation to pay.

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