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Updated over 3 years ago,

User Stats

180
Posts
52
Votes
Philip L.
  • Wholesaler
  • Florida
52
Votes |
180
Posts

Security on a loan Promissory Note

Philip L.
  • Wholesaler
  • Florida
Posted

I am closing on a single family home cash purchase on the 16th of July, I borrowed the cash from my father in law and he asked to get a promissory note added at closing.

The title company (chosen by the seller) will not add the promissory note at closing, the seller will not change the title company.

I have spoken to a local title company asking if they can create a deed of trust after I have closed on the property and they told me no it's not possible.

Any suggestions of how this can be done I am in Michigan, my father in law is just wanting some kind of security for the loan.

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