Deed of Trust

[eunicedlsu]

What is the name of your state?

I'm Korean who is interested in real estate market. Now a days i 've got curiousity about deed of trust in USA.
In Korea we have a kind of deed of trust, called as Dam-bo Trust. Dam-bo means mortgage. In all the states you apply diff law and i've learned that you have mortgage and deed of trust. where the property is located you should apply one of them, right?

BTW

the main question is why do you really put higher relibility on Deed of Trust? What are the advantages? Is it a really famous term in USA?

 

[BriantheBanker]

protection.

deed of trust
n : a written instrument legally conveying property to a trustee
often used to secure an obligation such as a mortgage or
promissory note [syn: trust deed]


Instead of an individual using their SS# for a loan, (they) could form the BriantheBanker Trust and attempt to borrow money under the trust.
In my experience, these loans are more commercial than residencial.
Normally business owners and individuals who have assets to protect (like equity in realestate) will hold their assets in a trust to protect from gov't, law suits, bankruptcy, dealth, etc...
Every area has different procedures and standards. This is my opinion. I am a Banker.

I think that's what you were asking......

BriantheBanker

 

[amortgageman]

Hi Brian,

Long time no see! How is all going in Lansing?

 

[BriantheBanker]

yo yo yo

good,
I figured that was you.
I just got you on another post.

talk to you soon

BriantheBanker

 

[eunicedlsu]

Thanks for your reply...and...

Thanks a lot for your reply.

the explaination for the Dambo Trust in Korea

Do you have any information about Deed of Trust??
i think i should make a document for the comparison bet USA & Korea~

sincerly yours,

Eunice

deed of trust
n : a written instrument legally conveying property to a trustee
often used to secure an obligation such as a mortgage or
promissory note [syn: trust deed]


Instead of an individual using their SS# for a loan, (they) could form the BriantheBanker Trust and attempt to borrow money under the trust.
In my experience, these loans are more commercial than residencial.
Normally business owners and individuals who have assets to protect (like equity in realestate) will hold their assets in a trust to protect from gov't, law suits, bankruptcy, dealth, etc...
Every area has different procedures and standards. This is my opinion. I am a Banker.

I think that's what you were asking......

BriantheBanker