Do you need a quick and easy way to correct mark in Promissory Note? Your search is over - DocHub gets the job done fast, with no complicated software. You can use it on your mobile phone and PC, or web browser to modify Promissory Note anytime and anywhere. Our versatile toolset includes everything from basic and advanced editing to annotating and includes security features for individuals and small businesses. We provide tutorials and instructions that assist you in getting your business up and running straight away. Working with DocHub is as easy as this.
Easy, right? Even better, you don't need to be concerned about data security. DocHub provides quite a number of capabilities that help you keep your sensitive data safe – encrypted folders, dual-factor authorization, and more. Enjoy the bliss of getting to your document management objectives with our professional and industry-compliant platform, and kiss inefficiency goodbye. Give DocHub a try today!
Hi, this is Trevor. And today were talking about promissory notes. A promissory note is the document used to show the evidence of debt in the case of a loan and the promise on the part of the borrower to repay the loan and the conditions under which those repayments are made. Important to note is that typically loans are made with recourse. And recourse means that the borrower is personally liable for the total amount of the debt, regardless of whether or not there is enough security or collateral to cover that debt in the event of foreclosure. Sometimes loans can be whats called non-recourse in which case is only the collateral that is used to cover the debt in case of default. But that would need to be specifically defined in the loan documents. The first, of course, is the loan amount. This is the amount of money that is loaned to the borrower. And its typically referred to as the principal amount. As the loan is being paid down, the amount that is left to be repaid is typically
