Posted by Teresa Welter on 7/14/05 4:15pm
Msg #52200

Need a little bit more help with tonights signing.

Well, as it turns out all of the questions that I asked about the other day are not necessary for this signing. This is a home equity (line of credit, I think as the client is getting some money and then checks for the rest) signing.

I am going through the docs and just need a few questions answered. I think I may know the answers but would just like confirmation.

There are two docs-Affidavit of Payment of Taxes and Mortgagor's Affidavit For Master Home Equity Loan Policy and Certificate Program. They are both blank and need to be notarized.

The first one says says that the client has paid his taxes for current year and then at the end of the paragraph, it says:
"This Affidavit is given to ______________ for verification of lien related issues.

And there is a place for his signature. Does he put something in the blank? If so, what?

The second doc/Affidavit says:
Mortgagor/Trustor/Borrowers_____________________
Prop Address_______________
Lender_________________
Loan #_________________
Loan Amount________________
Disbursement date____________-

Then all the stuff he is swearing to. Then a signature spot for him and me.

Does he fill in all of the blanks? Or does he sign a blank doc?

Next in the Closing Instructions there is a "Designated Payoff Authorization" spot. All with blanks. I am assuming that if they have left something off that he wanted to pay, then he would fill it in? Or does he leave it completely blank and just sign? I probably know the answer here but would like to be sure.

Next on the closing instructions there is a wire transfer spot highlighted without an amount to be transferred and then a place for him to put in his bank account info. I am assuming that he puts in the amount that was agreed in this space and fills in his account info? Again, just want to confirm it.



And last but certainly not least because I really do not know the answer to this one. I have two questions on the Deed Of Trust.

1st- On my notarial part, it looks like this:

Witness my hand and official seal.

_____________________________
(Signature of Person Taking Acknowledgement)


___________________________________
Sig of Person Taking Ack Typed, Printed or Stamped

Now I know obviously that I need to sign the top one. My question is that I was told in class that if the bottom one was not typed by doc drawer then I could leave that blank. Is that true?

2nd DOT question-At the very end of DOT there is a paper called the Request for Reconveyance. There is a little paragraph that says, " to Trustee:

The undersigned is the holder of the Agreement secured by this Deed of Trust. The Agreement together with all other indebtedness and obligations secured by the DOT have been paid and performed in full. Trustee is hereby directed to cancel the Agreement and this DOT, which are delivered hereby, and to reconvey, without warranty, all estate now held by Trustee to the persons legally entitled thereto .

Date____________ -_____________________-

Okay, does the client sign this or is this for the TC?

I know this is a lot of questions but I am soooooooooooo afraid to make a mistake. I just want to be absolutely certain that I know what I am doing and do not mess up funding for this client. The butterflies in my stomach are swarming and I hope I don't pass out on the way there (of course the 104 degrees outside doesn't help either). I know once I get there I will be fine. But until then I am going to be a wreck.

Anyone who can answer would be greatly appreciated.

Thank you!

Reply by SamIam_CA on 7/14/05 4:41pm
Msg #52206

**2nd DOT question-At the very end of DOT there is a paper called the Request for Reconveyance. **

Don't do anything at all with this - leave everything blank - no signatures, etc.

Sorry, I don't have definitive answers on your other queries.

Reply by Teresa Welter on 7/14/05 4:56pm
Msg #52211

Re: Never mind I got all necessary answers. Thank you all!

Actually Sam, you answered the one question I needed answered. I actually got the answer to everything else. Thank you sooooooooooooo much. The title company was very good to me. And she didn't make me feel stupid. She knew the answer to everything except that Request for Reconveyance. So I think I am set. I am going to go to this signing feeling so much more confident and mostly because of all of the great advice that you all give each and everyday!

You are all wonderful!

Reply by Pam W on 7/14/05 5:10pm
Msg #52217

Hi Teresa,

Would you mind sharing your answers to your questions, I am new also and could also use the information.

Thank you

Pamela Washburn

Reply by Teresa Welter on 7/14/05 5:26pm
Msg #52223

I would be happy to share.

The two affidavit's need to be filled in by the client. He/she puts his/her name in the spot that says "This Affidavit is given to __________ for verification of lien related issues.

And on the second one (Payment of Taxes and Morgagor's Affidavit For Master Home Equity Loan Policy and Certificate Program) he/she fills in all of the blanks with the correct info.

On the closing instructions he doesn't need to do anything but sign.

On the wire transfer he fills in his bank info and the amount being wired to his account and signs doc.

On the DOT notary line that I was wondering about, they told be to put my seal above it (because there isn't a spot specifically saying "notary seal" but there is space) and then print my name.

And as for the DOT Reconveyance question, Sam answered that one.

I think I covered it all. Hope it helps and I hope all the answers are correct.

Reply by Sam on 7/14/05 5:39pm
Msg #52228

**and I hope all the answers are correct** ME TOO!!!

I need an attitude adjustment today - time for pina-coladas! (damn the spell checker...)

Reply by JanetK/CA on 7/14/05 6:45pm
Msg #52245

IF you are in CA, keep in mind that you cannot notarize an incomplete document, so if the borrower doesn't know what to put into a blank line, you can't tell them what to put, but you might be able to suggest "N/A" (or something to that effect) as a possibility...

Reply by Teresa Welter on 7/14/05 6:54pm
Msg #52249

Re: So does he leave it blank if he doesn't understand?

Thank you Janet. I will keep that in mind. Fortunately, I think most of it he will be able to figure out without my suggestions because they specify. Of course the Affidavit paper is a bit more difficult. Do you suppose if he doesn't know what it means he should leave it blank?

It was actually the lady from the TC that told me what goes there. And I am just wondering if at 7:30 p.m. if there would be someone to call to tell him legally?

Any thoughts?

Reply by JanetK/CA on 7/14/05 7:08pm
Msg #52253

Re: So does he leave it blank if he doesn't understand?

You still didn't say if you are in California. If so, you CANNOT leave it blank, if it is to be notarized. "A notary public may not accept any acknowledgement or proof of any instrument that is incomplete." [Gvt Code 8205 (2)]

If you are not in CA, I can't say for sure, HOWEVER, the idea is that the person is acknowledging the document as written. If someone makes a change to it later, he could always argue that he didn't sign it as changed... Seems to me to be at the heart of what an acknowledgement is all about.

Reply by Teresa Welter on 7/14/05 7:17pm
Msg #52254

Re: So does he leave it blank if he doesn't understand?

Yes, I am in CA. Okay, so I guess that I am in a pickle if he doesn't know that he needs to put his name in. Here come the butterflies again. And I was just starting to feel better!

Reply by Janet/CA on 7/15/05 2:51am
Msg #52420

Re: So does he leave it blank if he doesn't understand?

I hope your signing went fine tonight. BTW, it's common to find blank spaces in docs that need notarizing, but it's not worth stressing over. I've never had anyone object to having the borrowers fill a blank with "NA" - especially when it's either that or no notarization! (If it's a problem, they could have completed the form themselves, in most cases.)