Why is mortgage needed if you already have promissory note

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Reference no: EM131076449

1. Harold is going to loan Maude $50,000 using a promissory note and a mortgage. Which one is the "mortgagor"? Which one is the "mortgagee"?

2. Why is a mortgage needed if you already have a promissory note?

3. The word "mortgage" can be used in two different ways...what are they?

4. You are a seller and want to "carry paper" on your house (seller financing). What documents can you use for seller financing in Oregon?

5. What is equitable title?

6. Who is the beneficiary in a trust deed?

7. Who is the vendee in a land sale contract?

Reference no: EM131076449

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