Document a mortgage loan with these affordable and customizable forms for the State of Alaska.
- Mortgage brokers, lenders and loan originators in Alaska are licensed through the Nationwide Mortgage Licensing System.
- Deeds of trust contain a power of sale clause, which allows for non-judicial foreclosure by the lender if the borrower defaults on the loan.
If you are selling a real estate property in Alaska, you can help out the buyer by carrying part or all of the purchase price with this Contract for Deed (or purchase money mortgage).
- Under the terms of this Contract, the seller takes on the role that would usually be filled by the mortgage lender.
- The seller retains title to the property until all of the purchase price and accrued interest is paid off, at which point the title is transferred to the buyer......
Alaska is a deed of trust state, and mortgage lenders use this Deed of Trust instead of a mortgage to secure home purchase loans.
- The Deed of Trust conveys title to the property to a third party trustee (often a title company), and not to the borrower.
- The trustee holds the title as security for the loan, to make sure that the borrower makes payments on time and performs its other obligations under the loan agreement and Note.
- If the borrower defaults.....
This template fixed rate Mortgage Note for Alaska is easy to use and understand.
- The borrower will make regular monthly payments to the lender until the maturity date, at which time the balance of the loan will be payable.
- The borrower can prepay some or all of the principal at any time without paying a penalty or prepayment fee. The borrower cannot make a prepayment if any regular payments are outstanding.
- The lender can sue the borrower and obtain a person.....