Elsewhere in this book explanation is made of the bond or note which accompanies the mortgage. The bond or note is the personal obligation of the borrower to repay the sum borrowed. The mortgage on the real estate is given as security for the borrower's obligation. It is always desirable to get a good bond or note - that is to say, one made by a person or corporation financially able to pay the debt when required to do so. Of course many mortgage loans are made entirely on the value of the real estate, without any reference to the financial standing of the bondsman, but the loan is made additionally secure when the bond is of high character. Lenders like to feel that those in back of the loan are responsible and able to pay if required to do so. A loan on a factory for example made to an irresponsible owner, might be hazardous, but would probably be secure if made to a large, active and financially strong concern. In the renewal of a mortgage with a subsequent owner, consideration should be given to the effect such a renewal would have upon the original bond. If it is desired to hold the original bondsman, his consent to the renewal should be obtained. Without such consent the lender must proceed in reliance upon the property primarily and such personal obligation as the new owner can give.