When you pay someone's mortgage, do you use an"All promissory Note"? I read its a document that tells the seller that you agree to pay all of their liens. But, im not sure if a mortgage is considered a lien.
are you referring to an All INCLUSIVE Deed of trust which is a California specific document ?
@Jay Hinrichs No!
@Jay Hinrichs im not.
Not understanding the whole situation. Who is the lender, the borrower of the original note and the 3rd party now paying? What is the goal?
Is this a subject to agreement ?
@Chris Seveney "all exclusive promissory note" is a document used when you pay someone else's liens, I dont know if I need it when I make someone else's mortgage payments (subject to) or when a person has liens
I have never heard of that type of note before - most things are “all inclusive” not all-exclusive. I have heard of all inclusive notes but those are specific to California. That is why I asked what is it you are trying to accomplish.
@Chris Seveney oooh I read the document again and it says "all inclusive promissory note" the document is for Utah not California
Originally posted by @Fili Aguirre:
@Chris Seveneyoooh I read the document again and it says "all inclusive promissory note" the document is for Utah not California
YUP that's what Chris and I said up in the thread.. they started in CA .. my dad had a company called CA wrap.. and the all inclusive deed of trust was created in the early 80s to wrap low interest rates when rate went to 18%.. we did hundreds of them if not over a thousand its a great Deed it protects the buyer and seller..