Posted by Underwood69 on 3/14/09 9:21am
Msg #280693

Homestead Doc

Anyone know what a Homestead Doc is and what it is used for?

Reply by PAW on 3/14/09 9:34am
Msg #280694

Can you please be more specific. There are many different "homestead" documents; applying for Homestead, Homestead Certification, Homestead Exemption Certificate, etc.

Do you happen to have a copy of the document? In what context was the term used?

Reply by A S Johnson on 3/14/09 9:44am
Msg #280696

In Texas, the br is stating the property has been delcared as his "home". A tax exemption of prart of the value is given and is protected from being taken from you execpt by only very limited court actions.
Home stead gives the lender an assurance as to his investment.

Reply by Underwood69 on 3/14/09 10:07am
Msg #280700

I did a recent refi where a Grandmother and her granddaughter were refininancing in both of their names. The 3rd party to the signing was a grandson who also lived there and was to sign a Homestead doc but that was all he was to sign. Unfortunately, that doc was not included in the packet. My problem: I called all numbers given by the signing company and the lender from the signing table for an explanation, but no one answered (much to my surprise) to explain the doc or what to do at that point. Borrower also called her contact numbers with no answer. Grandmother left early next morning for Florida and I'm left holding the bag because the Homestead doc was not signed at the closing table. I have yet to get an explanation from either where or what this doc was.

Reply by Linda_H/FL on 3/14/09 10:16am
Msg #280701

"Grandmother left early next morning for Florida and I'm left holding the bag because the Homestead doc was not signed at the closing table"

No you're not - was it e-docs? Check the package you received and see if it's there. If title truly failed to include it in the package it's on title, not you, and it's up to them to get that additional form to the third party (or to you for a re-visit). It's a shame you or the borrowers couldn't reach anyone to rectify this, but the absence of a particular form is not your fault - yes, be alert if the borrowers mention that something was supposed to be included, and do all you can to find out about it and fix it, but in this case it sounds like you did - they're lack of availabililty is at fault here.. ....MHO

Reply by Underwood69 on 3/14/09 10:58am
Msg #280710

Thanks Linda H/Fl. Yes, this was e-docs. I did go back, just now, and review the docs and do not see the form or reference to it which was the case by both the borrower and myself night of closing. Only reference made to grandson is on the Uniform Loan App. His name is indicated to have the title held is his name along with Grandmother and Granddaughter. I do agree this is the title companies fault but signing company indicates they are not getting paid ... where do I go from here? Title company has received all communications regarding my explanation on this error. Not receiving payment is secondary to a bad blemish on my record.

Reply by Lee/AR on 3/14/09 11:26am
Msg #280712

Horsefeathers on the Homestead Doc

Hey, do not accept that kind of nonsense. They didn't include it; you can prove it; they can pay you! If they don't, slam them big time on this & every board you can find. Sorry, weasels anger me.

Reply by Linda_H/FL on 3/14/09 11:30am
Msg #280713

Re: Homestead Doc...is this document required in PA

in order to record the security instrument? In FL, the Homestead documents are applied for through the county assessor's office and stay with that office, are a totally separate procedure, and have no direct bearing on being able to record a security instrument (it is not REQUIRED to be recorded before, after, or part of a mortgage)...

If this is not required for recording, I, personally, think the SS is blowing smoke in telling you they're not getting paid because of this - and even if it's true, and you truly did not receive it in your package - IT'S NOT YOUR FAULT....you should still be paid..

How about sending an e-mail to title (cc the SS) and return the e-docs to them - "here's what I received - the Homestead document is not included, therefore not MY oversight"...offer to go back to son to get it signed either free as a gesture of good faith or for a nominal fee...so as NOT to burn your bridges...if it's not required for recording, and doesn't need to be notarized, they don't even need you to go back out...they can send it to him separately.

Now, all this being said is based on the accuracy of your statements with no knowledge of PA recording procedures/requirements and Standards of Title..

Good Luck.

Reply by Linda_H/FL on 3/14/09 11:56am
Msg #280716

Or as Lee said - "Horsefeathers!" n/m

Reply by Les_CO on 3/14/09 12:58pm
Msg #280730

Re: Or as Lee said - "Horsefeathers!"

Very difficult to get someone to sign a document you don’t have. Don’t worry about it. They can send it to whomever, and have them sign it and send it back. If it’s to be notarized, they can send you or someone else, and pay for the trip.

Reply by BrendaTx on 3/14/09 1:00pm
Msg #280732

Exactly Les.

It doesn't matter what it is or what it is for...it ain't there, it ain't signed.

It's admirable to care what the docs are for or mean but the issue should not be confused with a package which is (or not) in error as sent to the notary.

Reply by PAW on 3/14/09 12:28pm
Msg #280719

Since the grandson's name was on the 1003 showing how title is vested, then I am assuming the document needed is the Affidavit of Homestead. This is a document that the affiant swears to stating that the property is the homestead of at least one property owner, and that the property owner is aware of a lien being placed on said property.

Often, parents and/or grandparents take responsibility for the loan, and the child resides in the property as their homestead. Since the child has the homestead rights, the Affidavit of Homestead is used in conjunction with a Mortgage. (PA is a "Mortgage" state, not a "DOT" state.) Usually, all property owners, and any others with a vested interest in the property, must sign the basic set of documents, commonly referred to as "marital" docs. In this case, the homestead occupant is still considered a Non-obligated Signer, much the same as a non-obligated spouse, and would probably need to sign the Mortgage, TIL, RTC and possibly other documents.

Reply by Linda_H/FL on 3/14/09 12:31pm
Msg #280720

Re: Homestead Doc...but..but...:)

He already said this was the only document the son had to sign..

Reply by BrendaTx on 3/14/09 12:49pm
Msg #280723

Re: Homestead Doc...but..but...and...and...

If the "homestead document" or whatever it is isn't there then it's not on the notary. Move on; pressure the scummy-acting SS to pay.

By the way...if the kid wasn't signing other documents it's quite possible that he was to sign a Affidavit of Non-homestead...another type of homestead affidavit....we can speculate all day on the fine art of legally declaring (or not) one's homestead but the point is, if it wasn't in the package it's their bad.

Reply by Les_CO on 3/14/09 1:03pm
Msg #280734

Re: Texas

In Texas, I thought it was something like…. “Your house, your horse, and your gun.” That was ‘protected’?

Reply by A S Johnson on 3/14/09 2:14pm
Msg #280747

Re: Texas

You need to "our women". Just ask Brenda, she is a protected class. LOL

Reply by BrendaTx on 3/14/09 9:11pm
Msg #280784

<<wink!>> n/m

Reply by sue_pa on 3/14/09 12:46pm
Msg #280721

My guess is that this entire loan package is screwed up. And my further guess is that the title company is either in Florida or Texas.

Reply by BrendaTx on 3/14/09 12:54pm
Msg #280726

Yep...the ol' "throw all documents at the package and see if

they stick" routine.

The notary can't have signed/ notarize what's not there.

Reply by Linda_H/FL on 3/14/09 12:55pm
Msg #280727

I was hoping you'd chime in, Sue...

so a "Homestead Doc" isn't something required in PA - in your experience?

Reply by sue_pa on 3/14/09 1:10pm
Msg #280738

Re: I was hoping you'd chime in, Sue...

never saw anything like it in PA.

I'm guessing most people here never heard or used the word "homestead" until a few years ago regarding real estate taxes for your principal residence.

Reply by PAW on 3/14/09 8:16pm
Msg #280779

Re: I was hoping you'd chime in, Sue...

>>> never saw anything like it in PA.

I'm guessing most people here never heard or used the word "homestead" until a few years ago regarding real estate taxes for your principal residence. <<<

The Taxpayer Relief Act (for PA) was signed into law by Governor Rendell on June 27, 2006. Part of the Act allows for certain homestead and farmstead exclusions through the Homestead/Farmstead Act (Act 50) of 1998. The form that must be submitted to the county assessor is titled "Application for Homestead and Farmstead Exclusion". From what I can ascertain from the underwriting manual, this document does not require notarization nor recording, and is not available in all counties of the Commonwealth.

Reply by sue_pa on 3/15/09 8:52am
Msg #280818

Re: I was hoping you'd chime in, Sue...

I meant never heard of it as pertaining to our jobs. This form has nothing to do with buying, selling, refinancing. It has nothing to do with any 'rights' regarding the property. It has to do with real estate taxes. No title company would ever mention it to you because it's not part of anything they're involved in.

If you meet the criteria, which I believe is basically live in the property, you get a reduction of your real estate taxes. It's an easy one-page document to fill out - supposedly one time - you send it in, they send you a post card that says you're accepted, and you get a reduction on your tax bill.

Reply by Tess on 3/15/09 4:12pm
Msg #280837

Re: I filled one out the other year.

It is for the tax relief that is coming from the gambling, that is now allowed in PA

Reply by ReneeK_MI on 3/14/09 1:42pm
Msg #280742

I'm gonna make a guess and buy a vowel ...

There's an SS involved, which means communication is going through a bunch of channels. My guess is SS didn't really understand what title was saying, and that the grandson was to sign mtg, TIL, RTC, Blah Blah Blah, since he's apparently on title...by the way, is this grandson married to the grand-daughter? Anyway, someone made a reference to "homestead rights" and that might've ended up getting repeated as "Homestead Doc(s)"

Let us know what happens on Monday!

Reply by Linda_H/FL on 3/14/09 1:59pm
Msg #280745

Yes Vanna....:)

In any event - Elizabeth deserves to be paid - it's not her mistake....

Reply by Underwood69 on 3/14/09 2:24pm
Msg #280748

Just to clarify:
1. The Grandson is the brother of the Granddaughter.
2. The Grandson appeared only on the 1003 as:
TITLE WILL BE HELD IN WHAT NAME(S): Listed name of Grandmother, Granddaughter, and Grandson.
3. Also appearing on the 1003:
MANNER IN WHICH TITLE WILL BE HELD: TENANTS IN COMMON.
4. Grandson was to sign one form "HOMESTEAD DOC"

And to add, there is a large amount of property involved. Grandson not interested in the house just the property.

Reply by Maureen_nh on 3/14/09 2:37pm
Msg #280750

Is grandson listed as one of the tenants in common on the mortgage? Do you know if any quit claims were signed prior to your signing??

Reply by Underwood69 on 3/14/09 2:45pm
Msg #280751

No, Grandson is not listed on the mortgage as Tenant in Common and furthermore, none of the other forms. I have no idea about a quit claim prior to the signing.

Reply by Maureen_nh on 3/14/09 10:45pm
Msg #280797

Unless there is something you haven't mentioned ( and I doubt it ) no fault on your part and tell the SS they are going to get blasted on this board and then do it

Reply by Linda_H/FL on 3/14/09 3:01pm
Msg #280754

Was Granddaughter a co-borrower?

Did she have to sign anything?

Reply by Linda_H/FL on 3/14/09 3:02pm
Msg #280755

Never mind - you already said so...sorry.. n/m