Florida Investment BlogThe promissory note is the obligation to repay. It’s the I-O-U. In Florida, the mortgage is the lien on the real estate collateral that secures the note.
What is the Difference Between the Promissory Note and the Mortgage?
The promissory note is the obligation to repay. It’s the I-O-U. In Florida, the mortgage is the lien on the real estate collateral that secures the note.