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Understanding Loan and Note Separation by Cairo Anubiss is a document available to read on EtoBox.
What is Understanding Loan and Note Separation about?
1) The document discusses the differences between a contract and a covenant in law. A covenant is a unilateral pledge and does not require consideration, while a contract is a bilateral agreement with an exchange of value. 2) It explains that most mortgage agreements are actually covenants disguised as contracts, allowing banks to exploit homeowners. When homeowners sell their promissory note to banks and make payments on the separate loan agreement, the banks are not holding up their end of the bargain. 3
- Author
- Cairo Anubiss
- Language
- EN