Posted by Mysti_FL on 4/23/05 11:53am
Msg #33529

Schedule of Real Estate Owned

I am unsure about this one. Should this form be signed by both the borrower and the non-borrower?

Thank you,
Mysti

Reply by Shannon/Va on 4/23/05 11:54am
Msg #33530

I have it signed by whom ever actually ownes the property. Usually both.

Reply by Mysti_FL on 4/23/05 12:10pm
Msg #33532

OK, thank you. I will do that from now on.
Mysti

Reply by Sylvia_FL on 4/23/05 12:21pm
Msg #33534

Mysti
Is that a separate form - or is it page 3 of the 1003?

Reply by Mysti_FL on 4/23/05 8:34pm
Msg #33587

It is a seperate form and one I see quite often (possibly in the Countrywide loans?).
Mysti

Reply by PAW_Fl on 4/23/05 2:18pm
Msg #33542

This is typically a part of the Loan Application (1003). Often it is an attachment or addendum to the 1003 when there is other property involved that is either not listed on page 3 of the 1003 or not considered for inclusion in the transaction. Therefore, I would only have the borrower(s) sign it. That is, only the person(s) signing the 1003 would sign the Schedule. This may be lender specific, but I don't remember doing it any other way. (Non-obligated signers don't sign the 1003, so wouldn't need to sign this schedule either.)

Reply by Mysti_FL on 4/23/05 8:37pm
Msg #33588

Re: Thanks Sylvia/Paw

Well, actually, maybe it is. Since I get it via e-docs which can be in any order, I haven't noticed if it is the last page to the 1003. But the answer sounds logical.

Thanks,
Mysti

Reply by Paul_IL on 4/24/05 12:01am
Msg #33614

Is signed by borrower or borrowers. Non-borrowing spouse does not need to sign it