Mortgage vs Deed Of Trust

Mortgages represent the amount of debt on a property. Think of it as borrowing money from a friend to buy your favorite gaming console or perhaps a tv set. You pay 50 dollars of the tv set but borrow the other 200 dollars to meet the price from a friend. That 200 dollar is the mortgage amount you owe to your friend. In the case of a real mortgage, the bank is your friend. A mortgage broker is responsible for making you the bank’s best friend by position your credit in a positive light. The difference between the amount owed and today’s real-time value of the property is the Equity the owner would receive if they sold the property. A Deed of Trust is the document proving ownership in a property. This can be in the name of a family trust or the owner’s name and gives the person named the right to sell the property. Cost Effective Loans has answers for all your questions in easy to understand language. Call today! Rates are really low for a refinance or purchase .

Marty Weinstein

Broker / Owner at Cost Effective Financial 

For San Diego’s most trusted lender for over 35 years.
Phone: +1 (619) 504-0828

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