South Carolina  |  Real Estate Law

Legal Question

Asked on: 6/21/02, 10:49 am

mortgages and deeds

I plan to loan an employee who lives in SC money. I live in VA. He has agreed to put his house up for collateral. What do I need to do to ensure that I am covered if he defaults on the loan? Promissory note? 2nd mortgage? Lien?

Thank You.

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