What's a Mortgage Deed?

A mortgage deed is a legal document that shows the transfer of real estate. In the case of a mortgage deed, it shows that the person who owns the home transfers the ownership to the lender as security for a loan, or mortgage. Information about both parties is needed for the mortgage deed.

What is the purpose of the mortgage deed?

A mortgage deed allows the bank (or lender) to hold a homebuyer's house as collateral until they repay their loan in full.

What is deed mortgage?

A deed of trust or mortgage is a contract that places a lien on your property. Both provide a way for your lender to take back your home through foreclosure. Deeds of trust and mortgages both serve the same basic purpose.