| Real Estate Terms -> What are 2nd Trust Deeds |
2nd Trust Deeds
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What are 2nd Trust Deeds? |
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The financing of real estate can involve more than just one Trust Deed or Loan. Each loan has a priority which is usually based on which loan was recorded first. The loan with the highest priority is the 1st Trust Deed and this is the 1 st loan to be repaid when the property is transferred, sold, or even has to be sold in a foreclosure. The next loan recorded has the next highest priority would be the 2nd Trust Deed. |
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