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Hypothetically, if "absolute" or "perfect" title were held by a grantee such that the grantor did not retain the equity of redemption, then the grantee/lender would theoretically not have need to foreclose upon the grantor/borrower, but rather might cure a default by simple means of eviction or "summary reposession". However, foreclosure ...
Transactions involving deeds of trust are normally structured, at least in theory, so that the lender/beneficiary gives the borrower/trustor the money to buy the property; the borrower/trustor tenders the money to the seller; the seller executes a grant deed giving the property to the borrower/trustor; and the borrower/trustor immediately executes a deed of trust giving the property to the ...
In a secured transaction, the Grantor (typically a borrower but possibly a guarantor or surety) assigns, grants and pledges to the grantee (typically the lender) a security interest in personal property which is referred to as the collateral. Examples of typical collateral are shares of stock, livestock, and vehicles.
Amortization: The process in which a borrower repays a mortgage in installments over time. APR: The annual percentage rate of a mortgage loan, including the interest rate and fees.
In the case of a deed, the grantor would typically be the property seller, and the grantee the buyer. A mortgage grantor or mortgagor is the borrower of the loan since they are giving away certain property rights to the mortgagee, lender, or mortgage grantee. More recent wording simplifies this language with "Borrower" and "Lender."
For example, the mortgagee is the lender, while the mortgagor is the borrower. Becoming familiar with the responsibilities of both can make going through the mortgage process much easier.
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
A loan agreement (also known as a lending agreement [1]) is a contract between a borrower and a lender which regulates the mutual promises made by each party.