Deed Of Trust Excel For Free

A deed of trust is an agreement between a home buyer and a lender at the closing of a property. The agreement states that the home buyer will repay the home loan and the mortgage lender will hold the property's legal title until the loan is paid in full.

First mortgage or deed of trust means a mortgage or deed of trust having priority as a lien over the lien of any other mortgage or deed of trust on the same dwelling and subject to the lien of taxes levied on that dwelling.

A second deed of trust means that there is already a loan or lien on the property, called a first deed of trust. The second deed of trust is in junior position to the first loan and has many special considerations for borrowers as well as lenders.

A second trust deed is a loan or mortgage recorded against real estate behind an existing loan (first). A second trust deed is also known as a junior lien. The timing of the recording of the loans against the property determines the priority (first recorded loan is senior).

First Deed of Trust means a deed of trust or mortgage which is recorded senior to any other deeds of trust or liens against the Property to secure a loan made by an Institutional Lender used to purchase the Property by an Eligible Buyer.

Trust deed investing is simply investing in loans secured by real estate.In the current economic climate professional real estate investors are buying properties at foreclosure sales for bargain basement prices, fixing-up these properties, and reselling them for a profit.

A mortgage involves only two parties: the borrower and the lender. A deed of trust has a borrower, lender and a trustee. The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower.

While the deed of trust is an agreement between three parties as noted above, a mortgage is an agreement between only two parties. The two parties consist of the mortgagor which is the borrower and typically a homeowner, and the mortgagee which is the lender, typically a bank.

A deed conveys ownership; a deed of trust secures a loan.

One difference between these two legal documents is that a deed of trust has three parties (trustor, lender, and trustee) while a mortgage has only two (lender and borrower).Because of this, a deed of trust allows for a faster and less expensive process if the loan is not paid.