Potential Home Owners Look at Less-Traditional Lenders
LawDepot's new automated form allows for more flexible mortgage loan options
Desert Hot Springs, CA (PRWEB) June 12, 2008 -- LawDepot.com expands its suite of automated real estate documents with the release of the Deed of Trust form. This new form is ideal for buyers and lenders who will be using alternative financing options, rather than going through a bank or mortgage broker.
With the real estate market as volatile as it currently is, borrowing money for the purchase of a home is becoming increasingly difficult. Traditional lenders are tightening their standards and, now more than ever, potential homeowners are being forced to consider alternative mortgage loan options.
When purchasing a home, most people automatically head straight to the bank, without considering the different options available. Some people may find that smaller, less-traditional lenders can offer customized services to better suit their needs. Some will be lucky enough to secure financing from friends and family members.
To improve the borrowing process, while still protecting these alternative lenders, LawDepot.com has released a new automated form that makes drafting a Deed of Trust quick and inexpensive, while offering a high level of flexibility and customization for each lending situation. The deed of trust is ideal for small to medium sized lenders, as well as people securing financing from less traditional channels, such as friends and relatives.
Potential homeowners need to consider all the borrowing options available to them before they sign any papers. This is especially true today, considering the instability of the current housing market. It is crucial that homeowners take the time to find the deal that suits them best, rather than just accepting the first deal that comes along.
Note that in some states, users may need to use a mortgage agreement instead of a deed of trust. LawDepot's Deed of Trust and Mortgage Agreement forms are designed to account for this. If a someone attempts to fill out a deed of trust for a state in which a mortgage agreement is required, they will prompted that they need to use the Mortgage Agreement form instead, and vice versa.
LawDepot.com does not provide any financing or any other type of lending to customers.
For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Dave Pettitt or visit http://www.lawdepot.com/contracts/deed-of-trust-form/.
About LawDepot.com: LawDepot.com is the most advanced provider of online legal documents. Hundreds of thousands of satisfied customers have appreciated LawDepot.com's efforts to make complex legal documents easy to generate with a simple step by step process. Thorough legal review processes ensure all documents are current and accurate. LawDepot.com offerings cover all facets of the legal industry, ranging from Real Estate, Business and Human Resources, to Estate, Divorce, and Family Law.
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