Deed of Trust


In an action of trust loan agreement a 3rd party becomes involved, the trustee, who actually holds ownership of the home until the loan is fully refunded. The homeowner is still in charge of making payments to the bank and once they have repaid the loan the trustee keeping the home in earnest will give it to the.

If payments not necessarily made the bank can then reclaim your home immediately from the trustee and steer clear of the lengthy process of a judicial foreclosure against the individual, as the individual never actually kept title to the house. Finance institutions prefer deed of trust arrangements as they can get title to the property and re-sell it far more quickly than when a mortgage was in place, in the end reducing the administrative and time burden of getting the house sold and cash in their hands.

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