Definition: "Mortgage" typically refers to a debt that obligates an individual or entity, known as the borrower, to provide collateral in return for a loan amount greater than the value of the property securing the loan. "A deed of trust", on the other hand, is a legal document used to transfer ownership of real estate from one person or entity to another. It typically includes provisions such as a mortgage and requires that both parties sign the document. In summary: Mortgage: A debt secured by collateral, obligating borrowers to provide an asset in return for a loan. Deed of Trust: A legal document used to transfer ownership of real estate from one person or entity to another. It typically includes provisions such as a mortgage and requires that both parties sign the document.
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