Not at all. This was one of the more on-topic highjacks, and thanks for the insight to boot. The picture I am building from you and EconProf is be wary, but not altogether deterred. EconProf, thanks for the historical background stuff.
The ebook I mention above does a good job of covering most of the obvious questions, but I’m not totally convinced by explanations as to why anyone would borrow at such high rates. For example, it may be that quick loans are part of what happens ‘out there’, but that doesn’t give the investor much time for due diligence.
For anyone else interested, Cal State website offers a PDF download called “Trust Deed Investments. What you should know.” Skimpy on details but a good starting place. http://www.dre.ca.gov/pdf_docs/forms/re869.pdf
