Posted by Michael Morrongiello on October 13, 2003 at 19:35:41:
What will the payors beleive? and better yet what will the Judge say in court if this issue ever was contested?
They will undoubtebly go off what the PROMISSORY NOTE indicates and NOT what the Note holder indicates.
You would be wise to have an estoppel signed by both the Note payor and Note payee and then in addition to this also have a FORMAL modification agreement of the Note and Mortgage executed to correct the apparent error that exists…