What Is a Mortgage Trustee?
Deed of trust trustees initiate foreclosures at the behest of lenders.
Deeds of Trust
In states where they're used, deeds of trust are how lenders secure their interests when they make property loans. Three parties are involved when a deed of trust is used to secure a property loan, including a trustee. Borrowers in three-party deed of trust property sales are called "trustors" because they're trusted with lenders' money. Deed of trust lenders are called "beneficiaries" because they benefit from interest they earn on their deed of trust property loans.
Trustees are crucial parties when it comes to deeds of trust because they hold the titles to properties bought using lenders' property loans. Trustees in deeds of trust don't work for property loan borrowers, however. A
deed of trust trustee holds a property's title for the benefit of the property's lender. The most important job of the trustee in a deed of trust is to initiate loan foreclosure at the property lender's direction.
Trending in Your Area
Owner Occupants vs. Tenants
Occupants are people who live in a particular space.
Evicting Tenants With Rent-to-Own Contracts
Just because a person has a rent-to-own contract.
Ways to Improve Tenant Screening
Ways to improve tenant screening including running.
How to Be a Perfect Tenant
Being the perfect tenant involves paying rent on time.Source: homeguides.sfgate.com