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A deed of trust is a security instrument that allows a borrower to pledge real estate as collateral for a loan, typically in the form of a promissory note. In simple terms, it means that if the borrower fails to repay the loan used to purchase a house, the lender has the right to foreclose on the property and reclaim it. The phrase "if you don’t pay, you don’t stay" summarizes this concept. It’s important to note that a deed of trust is different from a deed, which represents legal ownership of the property. The lender maintains the right to take back the asset if the borrower is not making payments.