Home Buying in 94110>Question Details

Jdglass, Home Buyer in 94101

Is there a standard deed of trust for california fha loans, or does each lendor create their own?

Asked by Jdglass, 94101 Tue May 29, 2012

I am refinancing an FHA loan in California, and the lendor has provided a deed of trust with terms that I am not comfortable with. They say that the document is required by the state and are trying to imply that it is _provided_ by the state (ie it's a state document).

From what I can see, the lendor creates the document, and the deed of trust is just how the mortgage/title/loan process works. Given that I should be able to negotiate or at least try to negotiate terms.

Is my understanding correct?

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Answers

1
You should contact an attorney to answer this question. You can also ask the escrow officer, if one is involved, to look at this deed of trust and compare it to the hundreds they've seen in the past. You might also look in your own records for the deed of trust on the loan that you are refinancing.
I guess of none of those options appeal to you then you can contact the California Department of Real Estate.
Agents handle the market transfer of real estate, we are not licensed to give legal opinions on the meanings of various deeds of trust.
0 votes Thank Flag Link Thu Sep 13, 2012
Jed Lane, Real Estate Pro in San Francisco, CA
MVP'08
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