This form is a deed of trust modification. It is to be entered into by a borrower, co-grantor, and the lender. The agreement modifies the mortgage or deed of trust to secure a debt described within the agreement. Other provisions include: renewal and extension of the lien, co-grantor liability, and note payment terms.
Deed Of Trust Records Foreclosure In Phoenix
State:
Multi-State
City:
Phoenix
Control #:
US-00183
Format:
Word;
Rich Text
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FAQ
You will usually be discharged after four years, but some trust deeds can last for longer. This information will be included in the terms of the trust deed. If the trust deed does not become protected, your discharge will only be binding on those creditors who agreed to the arrangement.
1) A D.O.T. is much easier to foreclose upon then a mortgage because the process to foreclose on a D.O.T. bypasses the judicial process. Assuming the Trustee gives the right notices (Notice of Default and Notice of Sale) the process will go to sale without court involvement at all.
In California, lenders can foreclose on deeds of trust or mortgages using a nonjudicial foreclosure process (outside of court) or a judicial foreclosure process (through the courts). The nonjudicial foreclosure process is used most commonly in our state.
Yes, a trustee can go to jail for stealing from a trust. However, this will only occur if they are convicted of a crime in a criminal court. Under California law, stealing trust assets with a value of $950 or less is a misdemeanor with a maximum jail sentence of 6 months.
Yes, you can sell a home with a Deed of Trust. However, just like a mortgage, if you're selling the home for less than you owe on it, you'll need approval from the lender.
Public records Throughout the foreclosure process, various legal notices must be filed in your County Recorder's Office. This information is public record and available to anyone. Just visit your county's office and you can search for a Notice of Default (NOD), lis pendens or Notice of Sale.
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How can I find out about a house for sale (foreclosure)?. You can look for foreclosures in Maricopa County through the Recorded Document Search.Foreclosures of mortgaged properties are always judicial. Learn how the Arizona foreclosure process works, including preforeclosure steps, state foreclosure laws, and homeowner rights. The Substitution of Trustee is required if a trustee other than the trustee named in the deed of trust is going to conduct the non-judicial trustee's sale. â–« Describe each party's interest in the real property. â–« Describe the mortgage or deed of trust and the secured indebtedness. If you have questions about completing forms, which forms to record, and so on, you must contact a title company, estate planner, or seek legal advice. A Deed of Trust is a real estate security document. Unlike a mortgage which only involves a borrower and a lender, these documents have three parties.