Deed of Trust

A deed of trust is a legal document used in many U.S. states (notably California, Texas, Virginia, Colorado, and others) to secure a real estate loan. Like a mortgage, it creates a lien on the property — but uses a three-party structure with a trustee holding legal title until the loan is repaid.

The practical difference vs. a mortgage: deeds of trust typically allow non-judicial foreclosure, which is faster than judicial foreclosure required for mortgages. Functionally, borrowers in deed-of-trust states experience the loan similarly to a mortgage.

Why it matters for Milo customers

Whether Milo uses a deed of trust or a mortgage depends on the state where the property is located. The substantive terms of your loan are identical either way; the document name and foreclosure procedure are state-specific.

---