Difference between DOT and MTG, in judgement what should we need to take, what is MIN number, what is trustee, subtitution of trustee, subordination mortgage, affidavit

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Accepted Answer

DOT and MTG are different types of mortgage agreements. MIN number is a unique identifier for a mortgage loan. Trustee is a third party responsible for managing the mortgage. Substitution of trustee is the process of replacing the trustee. Subordination mortgage is a mortgage that is secondary to another mortgage. Affidavit is a written statement made under oath.

DOT stands for Deed of Trust, while MTG stands for Mortgage.
DOT involves three parties: borrower, lender, and trustee, while MTG involves two parties: borrower and lender.
MIN number is a unique identifier for a mortgage loan that is assigned by Mortgage Electronic Registration Systems (MERS).
Trustee is a third party responsible for managing the mortgage and ensuring that the terms of the mortgage agreement are met.
Substitution of trustee is the process of replacing the trustee with another trustee.
Subordination mortgage is a mortgage that is secondary to another mortgage, meaning that it has a lower priority in terms of repayment.
Affidavit is a written statement made under oath that is used as evidence in legal proceedings.

Difference between DOT and MTG, in judgement what should we need to take, what is MIN number, what is trustee, subtitution of trustee, subordination mortgage, affidavit

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