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Release Of Promissory Note

State:
Multi-State
Control #:
US-1658SB
Format:
Word; 
Rich Text
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Description

An agreement that creates an interest in real property as security for an obligation, such as the payment of a note, and that is to cease upon the performance of the obligation, is called a mortgage. The person whose interest in the property is given as A Letter Tendering Final Payment of Amount Due Pursuant to a Promissory Note Secured by a Mortgage (in Order to Obtain a Release of the Mortgaged Premises) is a formal letter sent to the mortgage lender by the borrower in order to settle the remaining debt and obtain a release of the mortgaged premises. The letter should include the borrower's name and address, the mortgage lender's name and address, the amount of the remaining debt, and the date the payment is due. The letter should also contain a request for a Release of the Mortgaged Premises. There are two types of Letter Tendering Final Payment of Amount Due Pursuant to a Promissory Note Secured by a Mortgage (in Order to Obtain a Release of the Mortgaged Premises): 1. Prepayment Letter: This is a letter sent by the borrower in order to settle the remaining debt before the due date. 2. Full Payment Letter: This is a letter sent by the borrower in order to settle the remaining debt on the due date.

A Letter Tendering Final Payment of Amount Due Pursuant to a Promissory Note Secured by a Mortgage (in Order to Obtain a Release of the Mortgaged Premises) is a formal letter sent to the mortgage lender by the borrower in order to settle the remaining debt and obtain a release of the mortgaged premises. The letter should include the borrower's name and address, the mortgage lender's name and address, the amount of the remaining debt, and the date the payment is due. The letter should also contain a request for a Release of the Mortgaged Premises. There are two types of Letter Tendering Final Payment of Amount Due Pursuant to a Promissory Note Secured by a Mortgage (in Order to Obtain a Release of the Mortgaged Premises): 1. Prepayment Letter: This is a letter sent by the borrower in order to settle the remaining debt before the due date. 2. Full Payment Letter: This is a letter sent by the borrower in order to settle the remaining debt on the due date.

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Release Of Promissory Note