Make Fillable Legal Texas Mortgages Forms For Free

The Department has two key areas of regulatory responsibility: the chartering, regulation and supervision of the state's thrift industry; and the licensing/registration and regulation of the state's mortgage industry. These two areas of responsibility cover the vast majority of residential mortgage lending in Texas.

What is a Mortgage Agreement? A Mortgage Agreement is a contract between a borrower (called the mortgagor) and the lender (called the mortgagee) where a lien is created on the property in order to secure repayment of the loan.

Mortgage documents include a promissory note, which says that you promise to pay your loan back, and the mortgage or security instrument, which says that the lender can foreclose on your home if you don't make your payments.

A mortgage is an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you've borrowed plus interest. Mortgage loans are used to buy a home or to borrow money against the value of a home you already own.

Again, the loan transaction consists of two main documents: the mortgage (or deed of trust) and a promissory note. The mortgage or deed of trust is the document that pledges the property as security for the debt and permits a lender to foreclosure if you fail to make the monthly payments.

What mortgage document is most commonly used to secure a home loan in Texas? Deed of trust. Because a deed of trust is the most commonly used mortgage document in Texas and generally contains a power of sale clause, most foreclosures are non-judicial.