Substitute Trustee Deed Foreclosure
Description
How to fill out Texas Substitute Trustee's Deed?
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FAQ
Substitute Trustee. The person or persons appointed by the current mortgagee or mortgage servicer to exercise the power of sale in lieu of the original trustee designated in the deed of trust.
In non-judicial foreclosures, the trustee or a substitute trustee will be the one to conduct the sale. These auctions can sometimes be referred to as a "trustee sale" or "substitute trustee" sale.
In a nutshell, the Substitution of Trustee and Deed of Reconveyance is a legal document that evidences security interest is being release by a lender. In most cases, the document shows that a loan has been paid off. Property owners may even receive this document if they have refinanced a loan.
A trust deed is a legal agreement between you and your creditors to pay back part of what you owe over a set period. This is usually four years, but may vary.
In a nutshell, the Substitution of Trustee and Deed of Reconveyance is a legal document that evidences security interest is being release by a lender. In most cases, the document shows that a loan has been paid off. Property owners may even receive this document if they have refinanced a loan.