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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I think I understand :-) Posted by zachary on May 01, 2003 at 5:59 PM In Reply to: Payments are detailed in the note not the trust deed.. posted by Ward-CA- on May 01, 2003 at 5:22 PM : : Ward thanks for the response. : : I understand that the "carry-back" refers to the seller carring back part of the sales price, its just that all of the regular trust deeds go into monthly payments etc... : : I don't want to make any payments (princupal or interest) until the payoof when the place sells. : : Does that make sense? : : : : thanks, : : Zachary : ===================== : Zachary, : No, almost always the terms of the repayment of a secured loan are detailed in the promissory note, not in the accompanying trust deed. : For example to cover your situation you'd want a Straight Note secured by a trust deed. : Hope this helps. ________________________________ Ward, Ok, I've got ya now. I was looking at one of the trust deeds on Fidelity title's web site and I read thru most of it. It had a big section on how payments were to be made. I guess I'll look for a CA trust deed that doesn't go into detail about payments. Thanks Zachary Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Ward thanks for the response. : : : I understand that the "carry-back" refers to the seller carring back part of the sales price, its just that all of the regular trust deeds go into monthly payments etc... : : : I don't want to make any payments (princupal or interest) until the payoof when the place sells. : : : Does that make sense? : : : : : : thanks, : : : Zachary : : ===================== : : Zachary, : : No, almost always the terms of the repayment of a secured loan are detailed in the promissory note, not in the accompanying trust deed. : : For example to cover your situation you'd want a Straight Note secured by a trust deed. : : Hope this helps. : ________________________________ : Ward, : Ok, I've got ya now. : I was looking at one of the trust deeds on Fidelity title's web site and I read thru most of it. : It had a big section on how payments were to be made. : I guess I'll look for a CA trust deed that doesn't go into detail about payments. : : Thanks : Zachary Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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