The term “mortgage” is used whenever a person buys a home with a loan, but it’s not always the right terminology. Some states ...

Once you pay off your mortgage, the mortgage lender — also referred to as the “trustee” — creates the deed of reconveyance document. The lender then signs this document and has it notarized.

A quitclaim deed is a legal document that lets you transfer a property’s title from one party to another. This is done without making any changes to the property title.

In some states, after you pay off a home loan, your lender issues you a document known as a deed of reconveyance. This means that the title to your home is no longer being held as collateral.

For example, some states require a deed of trust while others require a mortgage. ... Continue reading → The post Deed of Trust vs. Mortgage: Key Differences appeared first on SmartAsset Blog.

Similar to a mortgage, a deed of trust is available in select states. Find out what it is, how it works and what makes it different from a mortgage.

A deed of trust, which is a legal document that secures a real estate transaction, could be significant if you’re buying a home; about half the states in the U.S. require a deed of trust over a ...