Posted by MC_oh on 5/24/07 5:55pm
Msg #191846

Citi HELOC Trust

I did the research on this and there was a ton of good information, however, I'm still not clear about the signing I have for tomarrow.

Husband and wife are both borrowers on every doc except the Mortgage and RTC. Those docs are only in wife's name as Trustee.

Seems backwards. Could somebody please explain.
Thanks

Reply by Lee/AR on 5/24/07 6:43pm
Msg #191860

Can't. Not a lawyer. This is really a great time to trot out the phrase "Don't analyze--Notarize." The lawyers have decided. Not for mere mortals to know. (Tho' if they should give you some indication as to 'why this is so'---share it, please.)

Reply by Laurie Notary in a flash on 5/24/07 9:15pm
Msg #191890

You usually cannot be in a trust when you sign. They usually have one or both sign out of the trust by quit claim etc.. and then after the signing is done and it records they can quit-claim back into the trust. I don't know if that's the case here but when I used to process loans they had to be out of the trust when doing the mortgage etc.. Good luck and take care =)