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Foreclosure/promissory note
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Question
how important is the promissory note, that is in the loan papers that a lender usually have the borrower sign, and if they cannot show it due to a foreclosure summons, does the ownner have a case of predatory lending practices.?
You would have to consult with an attorney or file a complaint with the state banking commissioner if you suspect anything with your loan. I am sure the lender has a copy of all the paper you signed at closing. The Title company which conducted the closing will also have a copy. The lender's name is also on the deed.
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Answers by Expert:
Dennis Herman
Expertise
I can answer questions on Real Estate such as question on writing an Offer to Purchase. What can go wrong after an offer is written? What is Buyer Agency and what will it do for me? What is a foreclosure? What is the difference between a foreclosure, a bank owned property and a short sale? What is the best way to locate a property? What steps can be taken to avoid foreclosure? How do Real Estate Agents get paid? How can I quickly build equity in a home? How do I view homes? What types of homes will have the best prices? How do I choose an agent? What types of financing are available?
Experience
Residential and commercial real estate. New home purchases. Buyer Agency. First time home buyers. Foreclosures, bank owned properties, estate sales and short sales.
Organizations
Greater Milwaukee Realtors Association
Wisconsin Realtors Association
National Association of Realtors
Publications
http://activerain.com/bloghome
Education/Credentials
State of Wisconsin Licensed Real Estate Sales Agent
Accredited Buyer Agency Training
Relocation Training
Certified Senior Citizen Representative
Wisconsin Real Estate Continuing Education
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