Escrow & Title
In Mississippi, a 'deed of trust' and a 'mortgage' are both security instruments. The practical advantage of a deed of trust in Mississippi is:
ALower interest rates for borrowers
BNon-judicial foreclosure — the trustee can foreclose without going to court, making the process faster and less expensive for lenders✓ Correct
CAutomatic title insurance
DLonger redemption periods for borrowers
Explanation
Mississippi uses deeds of trust rather than traditional mortgages primarily because they allow non-judicial (trustee's) foreclosure — the trustee can sell the property without a court proceeding upon default. This is faster and less expensive than judicial foreclosure required for traditional mortgages, which is why lenders prefer deeds of trust.
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