If you are planning to purchase a home in the near future there are some terms that you should be familiar with.
Deed of Trust this is just another name for a mortgage this document is used in some states in place of a mortgage.
When purchasing a home after all the paper work is complete you will go to what is called the closing. There you will be confronted with a ton of paperwork so
you should know some of the terms and what they mean in the paper that you will be signing.
One of the documents will be titled the deed of trust. This document will give you vital information on the mortgage your about to sign. It will state the loan amount, who the lender is, who the borrower is, a when your loan is due, the trustors and trustees, states loan is secured by the property and last a description of the property. So when entering any real estate deals be sure to consult a reputable real estate agent or even a real estate attorney will give you peace of mind.
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