Property Planet
Mortgage vs. Deed of Trust
The note is the promise; the mortgage or deed of trust is the security. Explore the parties, liens, equity and how foreclosure rules differ by state.
🔒 All-AccessExplorer 8+Advanced 13+15 min✓ Completed

The Wealthonauts Adventures · Book 03
Deeds, mortgages, deeds of trust and equity made simple
Ages 8+eBook available now
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Who Owns the House? is a children’s book about buying a house for readers ages 8 and up. When the Rivera family moves into a new home, their kids want to know: if the bank lent the money, who really owns the house? Professor Ledger explains deeds, titles, promissory notes, mortgages, deeds of trust and equity in clear, accurate language.
The story follows the family from the open house to the closing table. First, the kids learn what a down payment is. Next, they watch their parents sign two important papers: the promissory note, which is the promise to repay, and the mortgage or deed of trust, which uses the home as security. Finally, they track how equity grows each year.
Home buying is full of confusing words, so the book defines each one with a picture and an example. It also explains that property laws differ from state to state, which is why some families sign a mortgage while others sign a deed of trust. As a result, kids learn the real vocabulary without getting lost.
Pair it with the lesson Mortgage vs. Deed of Trust and the Mortgage Mission calculator.
Read one chapter or spread at a time, then pause and ask what the characters should do next. Afterward, open the matching free lessons below for activities at three age levels. Teachers can pair this children’s book about buying a house with the printable worksheets in the Academy.
Purchases are completed by a parent or guardian at checkout. eBooks are read online: open them from the order confirmation page, the confirmation email or My account → My books.
Use the Mortgage Mission calculator together: change the down payment and interest rate and talk about the results. Point out that real home costs also include taxes, insurance and repairs. The book is educational and not legal advice; laws vary by state.
Sample story text from the book.
The Riveras’ new house had a red door and a crooked tree.
“Is it ours now?” asked Mia.
“Mostly,” said Dad. “And a little bit the bank’s.”
Professor Ledger rolled in with two papers.
“This one is the note. It is your family’s promise to repay the loan.”
“This one is the mortgage. It says the house is the security for that promise.”
“Every month, part of the payment pays interest,” said Professor Ledger,
“and part pays down the loan.
The part of the house you own outright is called equity —
and it grows a little every month.”
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Property Planet
The note is the promise; the mortgage or deed of trust is the security. Explore the parties, liens, equity and how foreclosure rules differ by state.
🔒 All-AccessExplorer 8+Advanced 13+15 min✓ Completed
Contract Constellation
A promissory note is a written promise to repay money. Discover its parts — principal, interest, maturity and signature — at three age levels.
🔒 All-AccessJunior 4+Explorer 8+Advanced 13+15 min✓ Completed

Book 02 · Ages 6+
Professor Ledger explains loans, interest and promissory notes
eBook available now

Book 04 · Ages 8+
A tour of the bank behind the banks
eBook available now