Frequently Asked Questions About Mortgage Agreements

Do you know what your mortgage agreement is? Better yet, do you know where your mortgage agreement is? This is an important document that you should always have handy in case you need it. If you don’t know much about your mortgage or mortgage agreement, Certified Field Agent is here to help.

What is a mortgage?

A mortgage is a document that denotes a transfer of an interest in land as security for a loan. This is done by placing a lien on the property until the balance of the loan has been fully repaid. Once the balance is paid in full, the title of the property is cleared.

Is there a difference between a Mortgage Agreement and a Deed of Trust?

A mortgage agreement and deed of trust are essentially the same things, they just work through different processes. A mortgage creates a lien on a property between the borrower and lender. With a deed of trust, a lien still exists on the property, but it is held by a third party, called a trustee. This neutral third party will hold the title temporarily for the lender until the loan has been paid in full.

Do all states use Mortgage Agreements and Deeds of Trust?

Whether or not you will get a mortgage agreement or deed of trust depends on the state you live in.

The following states use mortgage agreements: Alabama, Arkansas, Connecticut, Delaware, Florida, Hawaii, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Pennsylvania, Rhode Island, South Carolina, South Dakota, Vermont, and Wisconsin.

The following states use deeds of trusts: Alaska, Arizona, California, District of Columbia, Georgia, Mississippi, Missouri, Nevada, North Carolina, and Virginia.

Any states not listed above use mortgage agreements and deeds of trusts.

Contact Certified Field Agent today if you need to obtain a copy of your Mortgage Agreement!

A Mortgage Agreement is a document that specifies the borrower will relinquish their claim to the property if they are unable to pay their loan. This is an important document to have, but not everyone keeps good track of their Mortgage Agreement. Thankfully, if you are looking to obtain a copy of your Mortgage Agreement, Certified Field Agent can help. We have been providing quality document retrieval services throughout the country for over 31 years and would be happy to help you obtain a copy of your Mortgage Agreement. Give us a call today at 714-632-3480 to get started.

To learn more about the reliable and quality document retrieval services that we offer, visit us on the web at Certified Field Agent.