Promissory Note

I have a promissory note to sign and there is a paragraph that I don't
necessarly understand..

PRESENTMENT for payment, demand, notice of dishonor, protest, notice of
protest and any homestead or personal exemption allowed by the constitutions
or laws of any state are hereby waived by the undersigned. Failure by the
holder hereof to exercise any option granted it hereunder shall not
constitute a waiver of future rights. The term \"undersigned\" as used
herein shall include all makers, co-makers, endorsers, sureties and
guarantors hereof.

Does this mean that if the note isn\'t satisfied, they can come after my
house and any personal property that I own?

Thanks in advance,
Kris

That is what they are trying to do yes--that may not actually be legal in some cirumstances.

Have a lawyer work with you before signing that if the obligation is significant.