What is a deed of trust in a foreclosure?

A deed of trust is an important part of the foreclosure process in Hawaii. A deed of trust is a legal document that transfers title of a property from a borrower to a lender or trustee. The lender or trustee holds the title until the loan is paid off, at which time the title is returned to the borrower. The main purpose of a deed of trust is to protect the lender. It creates a lien on the property, so that if the borrower defaults on the loan, the lender can collect on the lien by claiming ownership of the property. The deed of trust also allows for the foreclosure process to take place. In a foreclosure, the lender will initiate a foreclosure action, which gives them the right to sell the property. The proceeds of the sale will go to the lender in order to pay back the loan. The deed of trust also serves as a reminder to the borrower of their obligation to pay back the loan, as they are essentially forfeiting the title to the property if they are unable to make the payments. In the event of a foreclosure, the deed of trust will be taken over by the lender or trustee. The lender or trustee will then take possession of the property and will be responsible for selling it in order to recoup the money owed by the borrower. The deed of trust allows the lender or trustee to transfer the title back to the borrower or to another party in the event that the loan is paid off.

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What is a deed of trust in a foreclosure?

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