Tax Liens & Mortgage Notes
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Lien vs Deed of Trust as Collateral in Texas
I'm looking to have a sump pump installed for a drainage problem with a property I have in Texas; they offered to split the bill; half up front, half on a 12 month, zero interest loan. It's not a lot of money per se, but distributing payments over time, for free, is nice.
The company called me to say they needed me to sign a deed of trust for collateral. Apparently they've been having problems with collecting money from folks, which I get, but I've never heard of having to sign a deed of trust for doing contract work. How common is it to request the deed of trust over filing a lien for lack of payment?