Posted on: 07th Aug, 2007 09:02 pm
hi:
could you explain me what is a deed of trust and how does it work?
thank you very much.
could you explain me what is a deed of trust and how does it work?
thank you very much.
Welcome Micke,
In certain states, a deed of trust is used instead of a mortgage. There are primarily 3 parties involved here unlike a mortgage. They are the lender, borrower and the trustee. The title to the property is transferred to the trustee at the time of offering the loan. The borrower repays the loan within the specified time period and then gets back the title to the property.
In certain states, a deed of trust is used instead of a mortgage. There are primarily 3 parties involved here unlike a mortgage. They are the lender, borrower and the trustee. The title to the property is transferred to the trustee at the time of offering the loan. The borrower repays the loan within the specified time period and then gets back the title to the property.
Micke,
You can get more details on Deed of trust from http://www.mortgagefit.com/deed-trust.html
You can get more details on Deed of trust from http://www.mortgagefit.com/deed-trust.html
"hi:
could you explain me what is a deed of trust and how does it work?
thank you very much."
You can also take a look at the explanation provided here on deed of trusts: http://en.wikipedia.org/wiki/Mortgage#The_deed_of_trust
could you explain me what is a deed of trust and how does it work?
thank you very much."
You can also take a look at the explanation provided here on deed of trusts: http://en.wikipedia.org/wiki/Mortgage#The_deed_of_trust