When President Obama (right) met Usain Bolt (left) he could not resist joining the world-class sprinter in striking his trademark 'lightning pose'. Before striking Bolt's signature pose, Obama praised him saying that 'nobody's ever been faster'.
Decide on a secured or unsecured promissory note for repayment. A secured promissory note requires the borrower to provide goods, property, or services as collateral, in the event the borrower defaults on the debt. The value of the collateral should be equal to or greater than the principal of the debt.
Mortgage Promissory Note, Allonge, And Mortgage Foreclosure Help. A mortgage promissory note is a promise to pay. If you don't pay, then your home or commercial property could go into foreclosure where the Lender, bank servicer, trustee, or investor can use questionable tactics to get your property. There is a mortgage that goes along with the note, a contract in real estate.