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Author Question: The United States courts require debtors, as well as creditors and other claimants, to use the ... (Read 53 times)

MGLQZ

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on: Aug 3, 2018
The United States courts require debtors, as well as creditors and other claimants, to use the ________.
 
  A) Official Bankruptcy Forms
  B) Unofficial Forms
  C) Special Forms
  D) Trustee Forms

Question 2

What is a mortgage? What is a deed of trust? How are these documents similar and how are they different?
 
  What will be an ideal response?


sierramartinez

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Reply #1 on: Aug 3, 2018
Answer to Question 1

A

Answer to Question 2

A mortgage or a deed of trust is the document which pledges the realty to secure the promise to repay the amount borrowed under the terms of the promissory note. In lien theory states, the mortgage pledges the real estate as collateral for the amount borrowed. In title theory states, the deed of trust transfers title to the real estate to the lender or a third party who holds title in trust for the benefit of the borrower until the loan is paid in full.


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