Anti-Deficiency and a Deed of Trust Versus a Mortgage

Most homeowners refer to their monthly obligation to repay their home loan as a mortgage. A mortgage is a security instrument between the lender and the homeowner where the title is held by the homeowner. Many states use a Deed of Trust rather than a mortgage. A Deed of Trust is a security instrument between the lender, the homeowner and a trustee. A trustee holds the title to the property on behalf of the lender and homeowner.

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