Posted by tc/az on 7/28/04 10:06pm
Msg #5153
Wife signing as Nonobligated
Help please with loan docs regarding wife signing as nonobligated? Would she still be the co-borrower since they are still married, but separated and living in different states?
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Reply by Sylvia-FL on 7/28/04 10:32pm
Msg #5154
No - she is not a co-borrower. She is not obligated for the loan. Her name will only be on a few of the docs - Mortgage (DOT), RTC and TIL - at the least, but they may have her name on a couple of other docs.
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Reply by TC/AZ on 7/29/04 11:21am
Msg #5171
Thanks, Sylvia. Just wanted to let you know that since I've been reading message boards for over 4 months, your responses (and questions) are the first ones I read. I value your knowledge and expertise on this business. Thanks again!
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Reply by Sylvia_FL on 7/29/04 12:09pm
Msg #5176
Thanks TC - I try and respond whenever I can.
When I first started in this biz, I was helped tremendously by Kathy Poston - who went on to start The Signing Registry - and I just like to pass the help along whenever I can
We were all new at one time and had a myriad of questions, and it was always a blessing that there was someone out there willing to answer them for us
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Reply by redonthehead on 7/29/04 12:17pm
Msg #5177
This can be very subjective. If the husband is on the deed as his sole and separate property, the wife may not have to sign any of the docs. Depending on the state, it's best to defer to the title company in a case such as this.
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Reply by Sylvia_FL on 7/29/04 1:24pm
Msg #5183
Exactly!
If the spouse isn't listed on any of the docs, I will call Title and ascertain they do not want her (or him) to sign anything - especially as I am in a Spousal state.
If the spouse is listed on any of the docs, then I have them sign the docs he/she are on.
Title sometimes have different docs for the non obligated spouse to sign. Usually it is the Mortgage (DOT) the RTC and the TIL, but I have had some companies wanting all the title docs signed by the spouse, the HUD and the E&O Correction agreement - and sometimes a Signature/Name affidavit. I never second guess what these companies want
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