Deed Of Trust Modification With Wells Fargo In Contra Costa
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FAQ
In Alabama, Arizona, Arkansas, Illinois, Kentucky, Maryland, Michigan, Montana and South Dakota, the lender has the choice of either a mortgage or deed of trust. In any other state, you must have a mortgage.
Trust Services are available through Wells Fargo Bank, N.A. Member FDIC and Wells Fargo Delaware Trust Company, N.A. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice in your state.
The short answer is that a living trust is a private document and does not need to be recorded in California. The only time a trust is in a public record is when it contains real estate.
There are two main reasons a deed of trust may be considered invalid: (1) lack of required formalities in executing the deed of trust, or (2) there is some fact outside execution that makes the deed of trust invalid.
California is a Deed of Trust state.
Good to know: Texas does not use mortgages. Instead, Texas uses Deeds of Trust. The document is referred to as a Deed of Trust because there is a Trustee named for the property.
Because of a glitch in Wells Fargo's software program, hundreds of people were unable to modify their home loans, leaving many stuck in the financial situation that caused them to apply for the modification in the first place.
A deed of trust can benefit the lender because it allows for a faster and simpler way to foreclose on a home — typically months or even years faster.
Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California, Colorado, the District of Columbia, Idaho, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia, ...
