Posted by Robbins on 5/25/05 9:57pm
Msg #40422

Question

Just finished a closing in which both husband and wife own the property jointly but this loan is in the husbands name only. The document for the close account authorization for the previous loan (which was in both of their names) needs to be signed by both the husband and wife-right-it seems to me that if the old loan was in both of their names they both need to sign to close the account. Secondly, the Aff of Real Estate owned, the husband is the borrower so is it only he that signs this document? They both own the property but his name is printed on top of the document as the borrower. Previously these documents have had the names printed underneath the signature line; this time the borrowers names were not printed in. For some reason I just can't think tonight. TIA for your help.

Reply by Shannon/Va on 5/25/05 10:14pm
Msg #40423

Sometimes, even though the wife is on title, the loan is only in the husband's name. Can be because her credit is bad and she then signs as 'without obligation to pay" Since they are both in title, she would have to sign off on it but not sign ALL the docs in the package.

Reply by Julie-MI aka gothic on 5/25/05 10:19pm
Msg #40424

Technically, the non-borrower should sign both of the mentioned docs.

However, the current mortgage company will still discharge the mortgage WITHOUT the wife's signature on the letter. Some title companies want the owner aff signed by the vested owners,some do not. So, if the closing instructions specify the docs they want her to sign, just do those and don't dwell on the technical part. If the title company is willing to issue a title policy without the wife's signature on the affidavit, than it should be good enough for you.

I worked for a title company in the past, and I's shocked at the sloppy work that I see come through in the senario you mentioned. Trust me, I know where you're coming from!

Reply by ERNA_CA on 5/25/05 11:51pm
Msg #40438

This is a bran new loan , so if the wife was on the old loan, dose not mean she must be on the new one. Only one borrower and two people on the deed id common.