VIEWS: 1,341 PAGES: 7 CATEGORY: Buying a Home POSTED ON: 10/19/2007
This is an agreement between mortgage lenders to sell and buy mortgage loans. A deed of trust, or a mortgage, gives the mortgage lender the power to foreclose if a borrower defaults on mortgage payments. Under this agreement, the borrower does not change, only the lender does. The borrower will continue making payments to the new lender under the same terms and conditions of the original mortgage. This document is ideal for mortgage lenders that want to buy or sell mortgage loans on a specific piece of property.
"Assignment of Deed of Trust"