Updated April 11, 2022
A New Hampshire secured promissory note places two parties involved in a money-lending transaction on the same page to ensure the borrower follows the payment type outlined in the agreement and is aware of the repercussions of not doing so. To help protect the lender from losing the loaned balance, the borrower needs to put an item into security such as a home, vehicle, or boat. If the borrower defaults ont the loan, this item will be given to the lender to help offset the unpaid balance of the note.