Legal Question in Real Estate Law in California

Re: 3rd Mortgage Note

How did you come to the conclusion that you need a 3rd mortgage note? What is it that you are trying to accomplish here? More information would be helpful to determine your options. Feel free to contact me directly if you would like to discuss in more detail.

Re: 3rd Mortgage Note

A good source of blank deeds of trust, promissory notes secured by deeds of trust, etc. is a title company. I have had reasonable success in finding plain vanilla notes and trust deeds on the Internet. Keep in mind that what distinguishes a first, second, third, etc. note and deed of trust is not so much the language in the documents, but the sequence of recording. This is not to say that a third should be worded exactly the same as a first, but only to indicate that you may not have much luck looking for a form entitled "Third Deed of Trust" or Third Note" or the like.

The lender on the 3rd is probably going to want title insurance anyway, so why not just use the services of the title company right through the whole process, including proper documentation by their professional document processors? Safer for all concerned, and little or no added cost beyond the insurance premium.

Re: 3rd Mortgage Note

It is a subordinate mortgage note. The order is determined by the order of recording of mortgages. You can get a form for a balloon payment note from any title company website. There are no magic words. The note or deed of trust do not even have to say subordinate on it. Again the order of priority is determined by the recording dates, not the language of the documents.

Re: 3rd Mortgage Note

It is a subordinate mortgage note. The order is determined by the order of recording of mortgages. You can get a form for a balloon payment note from any title company website. There are no magic words. The note or deed of trust do not even have to say subordinate on it. Again the order of priority is determined by the recording dates, not the language of the documents.