One major advantage of a trust deed over a mortgage is the

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One major advantaged of a trust deed over a mortgage is that when a borrower cannot repay the loan, courts are bypassed. This leads to a nonjudicial foreclosure, which is less costly than that of a judicial foreclosure.

Explanation:

A "loan" is essentially what people look up to, especially when they try to purchase expensive things (just like a house). Once the borrower is able to borrow the amount, the lender makes sure to secure it. This is the reason why the loan can be classified as mortgage or trust deed. This ensures that the borrower can repay the loan.

In a mortgage, once the borrower cannot repay the loan, a judicial foreclosure follows. This means that the selling of the property goes through the court. On the contrary, the trust deed doesn't go through the court. Thus, it is less costly. This is one major advantage of a trust deed.

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