Back to Glossary
Deed of Trust
January 19, 2023
A Deed of Trust is a sort of secured real-estate transaction that is used in some states instead of mortgages. A trust deed consists of three parties: a lender, a borrower, and a trustee. The lender lends money to the borrower. In exchange, the borrower hands over one or more promissory notes to the lender.
Related Topics
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?
What Does Foreclosure Mean?
What Is a HELOC Loan?
Loan Default
Financial Considerations (For First-Time Home Buyers)