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What is the difference between a mortgage and a deed of trust?
Posted : 28/04/2024 3:19 pm
A mortgage is a financial agreement where a lender provides a borrower with funds to purchase a home and the property itself is used as collateral. A deed of trust, on the other hand, is a legal document used in financed real estate transactions as an alternative to mortgages in certain states. It introduces a neutral third party, a trustee, who holds the property title until the borrower fulfills the loan obligations.
Posted : 30/04/2024 10:20 pm