What is a borrower promissory note? A promissory note serves as evidence that a debt which exists between the lender and borrower contain terms that outline the rights and responsibilities of both parties. Unless otherwise noted the recourse is to the borrower should they default.
What is in a promissory note?
Mark Lester has over 5- years of experience in the real estate industry and is an active employing broker in the state of Colorado that specializes with investment and business real property sales. Prior to a career in real estate, Mark worked over 10-years in the restaurant industry. Recently, he has consulted business owners and real estate investors with helping them solve issues ranging from marketing, operational, financial, or portfolio strategies. Finally, educationally, the author holds a BA in real estate from Ashford University, in addition to an MS in finance and economics, and MBA from West Texas A&M University.