Is California a Deed OF Trust State or a Mortagage state? - Posted by Alan

Real Estate Investing
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Posted by Jack-NY on July 04, 2000 at 23:31:05:

Deed of trust

A document that gives a lender the right to sell your property if you can?t repay your loan.

A deed of trust is similar to a mortgage contract except that a deed of trust involves a third party called a trustee, usually a title insurance company, who acts on behalf of the lender.

When you sign a deed of trust, you are in effect giving the trustee title (ownership) of the property,
but holding on to the right to use and live in it. The lender or trustee holds the original deed of trust until you repay the loan on your home.

Unlike a mortgage, a deed of trust also gives the lender the right to foreclose on your property without taking you to court first.

Hope this helps…

Jack-NY

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Is California a Deed OF Trust State or a Mortagage state? - Posted by Alan

Posted by Alan on July 04, 2000 at 21:39:28:

Could somebody tell me if California is a deed of trust state or a Mortgage state?

Thanks
Alan

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Re: Is California a Deed OF Trust State or a Mortagage state? - Posted by GENE STEELE

Posted by GENE STEELE on July 10, 2000 at 11:41:37:

I WAS WANTING TO TRY TO BUY IN CALIF. BUT I AM TOLD THE MARKET IS SO HOT THAT YOU COULD’NT TOUCH ANYTHING OUT THERE FOR LESS THAN FULL MARKET OR ABOVE, IS THAT TRUE ? I AM THINKING OF THE SAN DIEGO COUNTY AREA !
ANY ADVISE WOULD BE GREAT THANKS>

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Free CA Deed of Trust Form - Posted by William Bronchick

Posted by William Bronchick on July 06, 2000 at 18:13:04:

Here’s where you can download a free CA deed of trust form:

http://www.legalwiz.com/forms

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Re: Is California a Deed OF Trust State or a Mortagage state? - Posted by chris

Posted by chris on July 05, 2000 at 24:03:42:

As Jack mentions below Deed Of Trust is the norm in California.

Mortgages are rare in California-but they are allowed.

-Chris