Real Estate Exam [California] 26, Notes, Trust Deeds, and Mortgages

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Why California overwhelmingly uses deeds of trust instead of mortgages and the three parties involved: trustor, beneficiary, and trustee. - The distinct functions of a promissory note as the evidence of debt and a deed of trust as the security instrument. - How the 'power of sale' clause enables non-judicial foreclosure, a key advantage for lenders in California. - The critical difference between an acceleration clause (triggered by default) and an alienation clause (triggered by sale or transfer). - The role of a reconveyance deed in clearing the title after a loan is paid off and the risks of deficiency judgments.