who gives the lender the mortgage and note?

Asked by Maritza, Vernal, UT Mon Apr 4, 2011

Help the community by answering this question:

+ web reference
Web reference:


Lew Corcoran, Agent, Easton, MA
Tue Apr 5, 2011
The borrower gives the lender the mortgage and the note.

Specifically, a mortgage is a written document evidencing the lien on a property and is taken from the borrower by a lender. The mortgage is the security against the property for the repayment of a loan. The term “mortgage” or “mortgage loan” is used loosely to refer both to the lien and the loan. In most cases, they are defined in two separate documents: a mortgage and a note.
Web Reference:  http://Lew.BestChoice.net
0 votes
Search Advice
Ask our community a question
General Area in Vernal Zip Codes

Email me when…

Learn more