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I need to know if Texas known for deeds or trust over conventional mortgages?

Guest

does texas use deeds of trust

Carmen in Texas, deed of trust is used while some lenders also use conventional mortgages.

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Carmen,

Primarily, Texas is a 'Deed of Trust' based state. Here, if a borrower defaults on a loan, the lender can foreclose under the provisions of deed of trust without actually going to court. With a foreclosure, the trustee named on the deed of trust may sell the property of the borrower.

Guest

In Texas can you hold a Deed of Trust on a property and later if the person wants to borrow more money can you do add to that Deed of Trust or draw up a new Deed of Trust?

jerry · Posted: Wed Nov 19, 2008 4:12 am Post subject:

Hi Vikki!

As far as I know, you will have to draw up a new deed of trust if you borrow more money later on.

Thanks,

Jerry

Guest

MY QUESTION, IN THE CASE OF ONE FAMILY FINANCING A HOME TO ANOTHER FAMILY MEMBER IS THE DEED OF TRUST REQUIRED OR IS THE MORTGAGE SUFFICIENT. I AM INTERESTING IN COMPLYING WITH IRS REGULATIONS THAT THE HOME LOAN BE SECURED.

savior70 · Posted: Fri Nov 06, 2009 5:31 am Post subject:

Hi,

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