federal government home loan program
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form of debt. For example, in the sale of a business, the purchase price might be a combination of an immediate government home loan program payment and one or more promissory notes for the balance. The terms of a note typically include the principal amount, the interest rate if any, and the maturity date. Sometimes there will be provisions concerning the payee's rights in the event of a default, which may include foreclosure of the maker's interest. government home loan program loans between individuals, writing and signing a promissory note is often considered a good idea for tax and recordkeeping reasons. A promissory note differs from an IOU in that the latter is a simple acknowledgement of the existence of a debt owed, whereas government home loan program promissory note, as its name implies, contains an affirmative undertaking to pay the amount stated. In the United States, a government home loan program note that meets certain conditions is a negotiable instrument governed by Article 3 of the Uniform Commercial Code. Negotiable promissory notes are used extensively in combination
government home loan program
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