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Loanfactz Definitions
Glossary of Legal Terms, Loan Terms and Home Construction, Repair and Maintenance Definitions. Some words have more than one meaning. Only those meanings relating to this site will be used.
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Note
A legally binding contract you sign when you get a loan. This legal contract lists the conditions under which you are borrowing and the terms under which you agree to pay back the loan, for example, you borrow a specified sum of money at a specified interest rate to be paid over a fixed period of time. Also called a mortgage note or a promissory note.
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