1.The Foreclosure Process

Some states use mortgages to secure loans for real estate while lenders in other states use deeds of trust.Read the information located here in PDF format. (attached) Then discuss the difference between these two documents (mortgages and Deeds of Trust) and in the case of foreclosure, how the process changes depending on which document is used.

2.Ethics

Discuss the ethical concerns regarding a lender attempting to exact a defaulting homeowner/borrower to surrender a deed in lieu of foreclosure. Because the lending institution is most likely to have more knowledge and financial/legal resources than the borrowers, what protection should the states enact to protect the borrowers?