Tuesday, March 9th, 2010
A Promissory Note for Interest Only Payments allows the borrower to make payments against interest only until the end of the loan term when the principal is due. The note should state the interest rate and payment schedule of interest, i.e., monthly payments due on the 15th day of ...
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Tuesday, February 2nd, 2010
To make a Promissory Note valid, the borrower must sign the note. Sometimes, the lender may ask the borrower's spouse to sign the Promissory Note as well when the loan is made for a business that both husband and wife run, or for a property that both spouses own, ...
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Thursday, January 14th, 2010
Sometimes people make copies of a contract or an agreement, and each party signs a copy. With promissory note forms, this should be avoided.
Remember each signed promissory note is enforceable. If there are two copies of signed notes, it means the borrower has promised to pay the money specified ...
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Wednesday, December 16th, 2009
When the borrower and the lender want to keep the repayment schedule simple, a Lump-Sum Payment Promissory Note may fit their needs. With this type of Promissory Note, the borrower won't make monthly or yearly installment payments. The principal and the interest is payable in a single payment ...
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Wednesday, November 25th, 2009
The Promissory Note - Lump Sum Payment With Interest is used when the borrower can't afford to make monthly payments to repay the principal for a period of time.
There are two options to pay the interest with this note: one that allows the borrower to repay the principal and all ...
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