Posted by Anonymous on 4/8/05 9:23pm
Msg #30573

Borrower Address misspelled...

Should I just cross it out and correct it?

Reply by Ernest_CT on 4/8/05 9:32pm
Msg #30579

Yes, cross it out, and ...

... be sure that the borrower(s) also initial it!

Alas, it is not unusual. (sigh)

Reply by Sylvia_FL on 4/8/05 11:46pm
Msg #30610

Have the borrower put a line through and correct it - and initial the change.

Reply by Ernest_CT on 4/8/05 11:59pm
Msg #30615

Sorry, Silvia, I wasn't specific enough.

What I meant was: Have one of the borrowers draw a sinle line through it (so that the crossed-out text can still be read), print (block print, not write in cursive!) the correct version nearby, and have all the borrowers initial the changes.

Sorry; I was taking shortcuts in agreeing that the change should be made and initialled.

Reply by MsRobbo on 4/9/05 2:27pm
Msg #30703

Call the lender prior to making any changes like that. Especially on the Mortgage/Deed of Trust. If you cannot get a hold of someone to help, then strike the error, make the correction, and have the borrowers initial the error. Most lenders would rather see their loan close then have it held because of a situation like this.

Reply by Teri-PA on 4/9/05 6:49pm
Msg #30728

Depends---Call Title first---In my neck of the woods- mailing addresses practically never match recorded addresses...And what may be a misspelling on a mailing address is actually how it is recorded....Only if Title verifies the address should the change be made..In the absence of verification, I would ask to see the previous mortgage or DOT before making any change...

Reply by Art_MD on 4/10/05 12:25pm
Msg #30819

Re: Borrower Address misspelled... leave it !!!

Several times I've seen addresses that did not match the "correct address". The address as recorded on previous deeds was incorrect and has been incorrect since day one. If you change it on the DOT, it will not record.

There's always (as well as I can remember) a doc correction agreement/limited POA to take care of these situations. These types of corrections are the job of the closer/attorney/title company. Put a note in with the return package.

Art

Reply by sue on 4/11/05 10:45am
Msg #30888

Re: Borrower Address misspelled... leave it !!!

...If you change it on the DOT, it will not record...

the recorders offices here in PA don't check documents to be sure addresses are correct. They record what you submit and if the address is wrong that's not their concern. If the elements they require for recording (a municipality, a description, signatures, notary ack, correct fee, etc) are included it will record. They in no way go back through a chain of title and determine if new documents match the old.