Posted by ItsMe123 on 6/23/05 12:39pm
Msg #47139

How would you handle this---closing at 3pm

Reply by Kim_NJ on 6/23/05 12:43pm
Msg #47140

oohhh...tough one!! LOL!!! :-)

Reply by ItsMe123 on 6/23/05 12:46pm
Msg #47144

Attn FL experts

I have a signing today for a FL property. I am in MI. One vested person has already signed. She was in TX when she signed. The docs were then overnighted to me for the other 2 vested owners to sign--they will sign only the RTC, TIL, DOT. Well the person in TX did not have the FL proprty owner have 2 witnesses when she signed. Also she signed the RTC on the 22nd and the RTC ends opn the 25th, that would be correct for her. I called the SS and let them know there were not 2 witnesses, thus unrecordable and that I also would not be able to produce 2 witnesses as I was not told before hand. He said just to just go ahead. I also talked about the RTC and he said to ahve them sign their name with todays day next to their name. He said to nt change the RTC end date. Obivously he is instructing me to continue and the result will be a loan that will nt fund nr will it record. Would you call the lender or just do it. How would you handle the RTC thing? The people to sign today will not be given the correct RTC. This will end in a nightmare for the lender, what would you do?

Reply by anon on 6/23/05 12:56pm
Msg #47148

Re: Attn FL experts

I have had a similar situation with the RTC. The "today's signer" needs an RTC with recission ending 3 days from date he signed. End of story. Also it is up to the borrower (signers) to produce the witnesses.

My opinion, for what it is worth, I would call the title co or lender contact and ask them what they want to do. The SS obviously hasn't a clue. Usually when I am told to do something that I know or think may not be correct, I make sure I get the name of the person who told me and place a note or send an email outling the conversation and the instructions they gave me. Saves some grief...and doesn't give them basis for nonpayment. The biggy!

Reply by PAW_Fl on 6/23/05 1:10pm
Msg #47152

Re: Attn FL experts

First, Florida is not a DOT state. We are a mortgage state. We do not place property ownership in a trust when a lien is placed on that property. Property ownership remains with the rightful owners.

--- Mortgages **do not require witnesses** to record in the state of Florida. ---

However, if there is any type of **DEED** that conveys property ownership, QuitClaim, Warranty, Special Warranty, Zero Consideration, etc., then the **DEED** must be witnesses by TWO witnesses, one of which can be the notary.

As far as the RTC goes, the date a person signs is the start of the rescission period, no matter what date is reflected on the document. Though, by statute (Title 12 US Code), the expiration date must be conveyed to the signer. Therefore the SS that told you not to change the dates on the RTC is wrong. It will not be a nightmare for the lender, because the stipulation of the law specifies that an owner has a three day right to rescind ... period.

Reply by ItsMe123 on 6/23/05 1:19pm
Msg #47155

Thanks PAW--just got off the phone with Benda

PAW--I had searced one of your posts and it made me beileve the motrtgage must be witnessed. I called Brenda and she explained how FL doesn't require witnesses on the mortgage but does on deeds of conveyance. Bottom line is I love FL as a state, I think it one of the most beautiful in the union but I don't like how they do this. It is confusing.

On the RTC, I agree wholeheatedly. I am going to just have them sign it as it is. I hate to do as I am so aware of the problems forthcoming in it (not having a full 3 days extends the RTC to 3 years) but that is clearly what they want me to do.

THank you so much for your imput. And thanks to Brenda too

Reply by BrendaTx on 6/23/05 1:56pm
Msg #47169

Re: Thanks PAW--ditto to Paul - thanks

Reading our boards daily reveals a wealth of information, folks! I was ahead of the FL game with IM123 because I had been through an FL Mortgage in the past and had researched this before.

Thanks to Paul for his help and educational posts. Because of the earlier discussions on recording requirements, I was able to help ItsMe123, a person who has helped me a lot, as well.

It helps us to be less stressed if we understand "why" when things deviate from the norm. Thanks to Paul for all the educational things he posts.

If what goes around comes around...Paul should be getting lots of help from somewhere.

Therefore, I think we should start a chain letter and put his name at the top. Everyone send Paul $5 immediately...write a letter to 100 of your closest friends and tell them to send me $5 and to send you $5, etc. etc.

All letter recipients and readers of this should know: if you do not comply your teeth will turn green and your hair will fall out.

However, if you send money to Paul and me, you will become rich and famous, plus receive post cards of thanks for being a part of this scam...I don't know about him, but I'll even send you pictuures of the places your money will send me to visit.

Friends, don't let this opportunity pass you by. Act today!

(j/k )

Reply by PAW_Fl on 6/23/05 2:10pm
Msg #47173

I like the way you think.

I fully agree and support what Brenda said. However, I'm not sure whether I would send everyone pictures of the places I'd visit, as the Harris County and Brazoria County jails don't allow cameras on the inside.

Reply by ItsMe123 on 6/23/05 1:26pm
Msg #47157

Actually with RTC wording, I think the lender may be okay

RTC wording is as follows. (obivously not exact wording)
RTC 3 day ends when either 3 days after the last of the following occur,
1. Date listed above
2.date you receive TIL
3.Date you received this notice

This wording would extend out the 3 day beyond the date on the form as they are getting 2 and 3 today so by the nature of the wording their 3 day would end Monday. I don't think an investor will like it but I think if push came to shove the lender would prevail.

Reply by Nd_WA on 6/23/05 4:27pm
Msg #47215

Re: Actually with RTC wording, I think the lender may be okay

It may not make sense to a person signing an RTC today only to see his/her 3 day expires on the 25th as shown at top dated for the previous signer. What I have done in this situation was to make copies then change the date to match with current signer. Atleast he/she has something that show the correct dates.

Reply by Anonymous on 6/23/05 9:42pm
Msg #47279

Re: Attn FL experts

In this case, the RTC actually begins when the last of the signers has signed it. It may not be backdated, and these vested owners have a right to their three day time period too.

As you already know, our jobs are not to be concerned with the begin and end dates of the RTC or when the loan funds, but to make certain it is accurately signed.

Reply by ItsMe123 on 6/23/05 12:46pm
Msg #47146

Opps--please see below

hit enter by accident and it "entered" alright