A Guide to Cell Phone Signal Boosters

Poor cell phone reception continues to be a major problem…

Debt Busters: The Complete Guide to Getting out of Debt

When it comes to getting out from under the mountain…

How to Find Trust Deeds For Sale

How to Find Trust Deeds For Sale

A Trust Deed is simply the security for a property or real estate loan. This document, once signed, becomes public record.  There are usually three parties to a Deed of Trust: The Trustor, which is the borrower; The Trustee, which is a legal entity; and the Beneficiary, which is the lender on the loan.  However, Trust Deeds are also referred to as Trust Deed Foreclosures and when a borrower finds themselves in deep financial trouble they usually list their deeds with companies that offer Trust Deeds for sale.

Trust Deeds for sale always identifies what the original loan amount was, the property’s legal description that is being used as security for a mortgage, the commencement date of the loan, the maturity date of the loan, the legal procedures involved in maintaining the loan, and paragraphs such as alienation and acceleration clauses. Trust Deeds for sale will generally also list the requirements of the mortgage, the late fees, and if there are any prepayment penalties on the original loan amount. All parties involved are also listed on Trust Deeds for sale.

Unlike typical mortgages, Trust Deeds for sale have Trustees. These are an independent third party that holds the ‘Power of Sale’ in the event of a default.  Should such an event occur, they would file a Notice of Default which becomes public record for 90 days. Trust Deeds for sale will also receive a 21 day publication in the local newspaper. After this time frame is up, the Trustee is then allowed to auction off the property to the highest bidder on the steps of the courthouse without needing any court procedure.  Once the Trust Deeds for sale has been finalized by the Trustee, it is final.  

When a borrower becomes delinquent on their loan payments, and cannot bring their loan current during the 90 day Notice of Default time frame, the Trustee will step in and list the Trust Deeds for sale. Trust Deeds for sale are sold on an ‘as is’ basis.  Once Trust Deeds for sale have been sold, the money obtained for the purchase goes to the lender to pay off the original loan amount. If there are any monies left over from the sale, it is reimbursed back to the borrower.

Buying Trust Deeds for sale can be quite a profitable real estate investment. Finding the best deals on Trust Deeds for sale, however, can seem quite daunting. Learning how to find Trust Deeds for sale is actually quite easy. Begin with your local newspaper. Peruse the section in the newspaper that lists all of the Trust Deeds for sale. Contact the representatives of the Trust Deeds for sale that you are interested in and make them an offer.  

Another way to find Trust Deeds for sale is to contact local real estate agencies. Some agencies have a list that they keep on file. A third option is to peruse many of the Trust Deeds for sale websites that are online.

Follow Zenedy