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Veterans Administration. The loan may be issued by qualified lenders. The VA loan was designed to offer home equity loan online financing to American veterans or their surviving spouses (provided they do not remarry). A promissory note is a contract detailing the terms of a promise by one party (the maker) to pay a sum of money to the home equity loan online (the payee). The obligation may arise from the repayment of a loan or from another form of debt. For example, in the sale of a business, the purchase price might be a combination of an immediate cash payment and one or more promissory notes for the balance. The terms of a note typically include home equity loan online 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. For loans between individuals, writing and signing a promissory note is often considered a good idea for home equity loan online and recordkeeping reasons. A promissory note differs from an IOU in that the latter is a simple acknowledgement home equity loan online the existence of a debt owed, whereas a promissory note, as its name implies, contains an affirmative undertaking to pay the amount stated. In the United States, a promissory 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 with mortgages in the financing of home equity loan online estate transactions. Other uses of promissory notes include the capitalization of corporate finances through the issuance and transfer of commercial paper. Payment Shock - Industry term to describe the severe (unexpected or planned for by borrower) upward movement of mortgage loan home equity loan online rates and it's effect on borrowers. Sadly, for those that do not read this wiki entry or who do
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home equity loan online

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