Legal Question in Real Estate Law in Arizona
assignment of deed of trust
What does this document do?
It's been prepared by the original lender - and I believe the loan was assigned to another lender?
Is this correct?
Asked on 7/19/07, 2:17 am
2 Answers from Attorneys
Brian Blum
Blum Law Office, PLC
Re: assignment of deed of trust
I'd have to see the document to be certain, but generally an Assignment of a Deed of Trust means that the loan was sold to a different bank. It shouldn't effect your loan at all.
Answered on 7/20/07, 1:59 am
James Jenkins
Jenkins Law Center PLC
Re: assignment of deed of trust
Assignment of a deed of trust transfers the collateral rights of the lender in the property to the new lender when the loan is sold. It does not alter the terms of your loan, just replaces the lender with a new party.
Answered on 7/21/07, 11:32 am
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