is a trust sale

User Forum Topic
Submitted by jimcav on April 3, 2008 - 8:15am

another word for probate?
i have heard mortgages in SD are actaully deeds of trust, not mortgages, so not sure what a trust sale means
thanks

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All of the mortgages in San
Submitted by SD Realtor on April 3, 2008 - 8:59am.

All of the mortgages in San Diego, actually Ca are trust deeds. A trust sale indeed could be that a property was held in a trust and the hiers to the trust are now selling the property as the people who lived in it have passed away. Note that a trust is an excellent way to avoid probate.

Don't confuse a trust sale with the auction that is held on the courthouse steps commonly referred to as a trustee sale.

SD Realtor

SD can you comment on this
Submitted by jasper on April 3, 2008 - 9:21am.

SD can you comment on this one then please:

You're probably familar with the site....it seems pretty accurate when I compare it with Rich's data:

http://www.foreclosureforum.com/stats.html

Q1: If as you mention "All mortgages are Trust deeds" then how can the website have "All mortgages" as a lower number than "Trust deeds".....and why are there two columns anway???

Q2: Maybe related. How can the number be so high?? The website lists All deeds as 10,000+ for Feb, when Rich and Sandicor show a few thousand.....what gives?

Not trying to call a bluff or anything. I honestly dont know. The NODs and Trustee sales are pretty straight forward so no problems there.

Any help you can bring to clear it up....thx