But after Mr. Phillips took on the starring role in ''La Bamba,'' the new film biography of Valens, the Valenzuela family paid him the highest compliment of all. ''They all called me Ritchie,'' said Mr. Phillips. ''Ritchie's brother Mario hasn't called me Lou yet.'' Similar Outlooks.
The best structure depends on who you are. From a buyer's perspective, the trust deed is preferable, as he gets ownership of the property. It also helps to insulate him from the seller. On the other hand, a land contract gives the seller more control since she retains ownership of the deed.
How a Deed of Trust is different from a Mortgage: If you look at the big picture, a Deed of Trust functions similarly to a Mortgage. Namely, a buyer secures a loan so he or she can buy a house, then the lender protects that loan with a deed or a mortgage. But there are a few important differences to keep in mind. For starters, a Deed of Trust is usually not created by a bank. In fact, thereâs a third party involved during Deeds of Trust.