October 2010

Found 1 blog entry for October 2010.

As the media focuses in on the latest foreclosure scandal regarding “Robo Signers” and the heartless, cruel and greedy banks, I took the time to read my Deed of Trust.  In Virginia, most mortgages are non-judicial Deeds of Trust.  My Deed of Trust is only 19 pages long and has two riders that attach making the entire document only 26 pages long.  The document is very straightforward and outlines what the bank and I have agreed upon.  It is a contract that afforded me the opportunity to purchase my home provided I adhered to the terms specified in the Deed of Trust.  The Deed of Trust outlines how the bank can accelerate the loan and the steps involved with foreclosure.  This document is non-emotional.  It does not outline special terms for an

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