Demand Feature on a Second Mortgage Note?
Thursday, July 9th, 2009psrobi asked:
Can someone give me some examples of what a demand feature would be on a second mortgage loan?
The mortgage has a check box in the TIL area that states this loan has a demand feature as indicated but I don’t see anything indicated anywhere in the note.
I think a balloon is sometimes confused with a demand feature, there is not a balloon on this one.
I am stumpped.
Connie
Can someone give me some examples of what a demand feature would be on a second mortgage loan?
The mortgage has a check box in the TIL area that states this loan has a demand feature as indicated but I don’t see anything indicated anywhere in the note.
I think a balloon is sometimes confused with a demand feature, there is not a balloon on this one.
I am stumpped.
Connie
