Posted by Anonymous on 7/4/04 11:23am
Msg #3940

Getting Paid-Any comments Hugh-Take 2

Was out on vacation til now. Thus, restarting this thread. I like my agreement where the client agrees to pay if the signing company doesn't. It give me added leverage. First, to the signing company, then to the client, and lender. I don't really care about pissing off the signing company if they have not paid me. Chances are I won't be working for them again anyway. I guess either the client, signing company or lender will pay me to make me go away. I hope the lender hears about what the signing company is doing. It it disrupts the signing companies relation ship with the lender they will either 1) clean up there act or 2) the lender with change to a more reputable signing company. Legally, may be not a strong leg to stand on, but do the signing companies, lenders and clients want to go to court for what is often $50 to $150 dollars? I suspect not. They will pay me to go away.

Reply by Sylvia_FL on 7/4/04 12:27pm
Msg #3943

If I was the client (borrower) and the signing agent wanted me to sign an agreement if the signing company didn't pay me, I would refuse to sign, as I have paid the notary already in my closing costs. I wouldn't want to be paying twice.

Reply by Anonymous on 7/4/04 3:13pm
Msg #3948

I wouldn't siging it either but so far I have had 13 signings and everybody has signed without batting an eye. I do not use it for in house closings.

Reply by Bob-Chicago on 7/5/04 9:50am
Msg #3967

Bad-Bad Idea

Anonymous apparently does not want to be confused by advice from those with far more knowledgand and experience than he has. After all , he has done13 whole signings . I, and probably Hugh and Sylvia, did more than that last week. THis is not directed at Anonymous, who will prbably be out out the business shortly for lack of any assignments when word gets around.
Having the borrower sign such a doc has only a down side. It is unenforecable ( no consideration, (right Hugh)) Also, as soon as ss, title co or lender finds out you are doing this (even those that pay NSAs as agreed, which most of them do) that someone is doing this, their name will go on a do-not use list.
I haven't seen many postings from "the man from Tennessee" (no not Elvis) lately, buth he was forth this idea on the old NASA board about four years ago. I believe that even he decided that it was a bad idea after listening to others on the board
Happy Independence Day to all

Reply by Anonymous on 7/7/04 10:29pm
Msg #4051

Re:Not a bad idea

No, I have done a couple hundred signings. I have only done 13 with my form where the borrower is secondary liable. No problems thus far in getting it signed. Not sure I will enforce it in court, but I might threaten such action. Will keep you advised.

Reply by Roger/OH on 7/8/04 12:00pm
Msg #4074

Listen to what others are trying to tell you...

On at least 2 threads you have been strongly advised against continuing the use of this form. A lender, ss, or title co WILL find out about this practice sooner or later, and as has been noted before, they will blackball you. You have been advised by several with considerable experience that your form is unenforceable, as your contract is with the company that hired you, not the borrowers, who have already paid for your fee in their costs. So why even take the risk by using something that can't do you any good?

If you choose not to take the advice you asked for and have been given,
then the results will be on your head. There is nothing we can do that will overcome what you will not do.

Reply by Bob-Chcago on 7/8/04 12:40pm
Msg #4076

Re: Listen to what others are trying to tell you...

I think that it was Judge Judy who said "beauty fades, dumb is forever"

Reply by Sylvia_FL on 7/8/04 3:30pm
Msg #4089

Re: Listen to what others are trying to tell you...

That was the title of her book
"Beauty Fades, Dumb is Forever - The Making of a Happy Woman"