Reply by Joan_OH on 8/14/08 7:29pm
Msg #260128
Lester.
You should always get verification from the title company. In my experience, any personally owned investment property requires dower signatures on the Mort/Riders, TIL and anything else the lender wants the spouse to sign (look at the lender's instructions). If the investment property is in a Business name, the spouse does not have to sign unless he/she is signing as a personal guarantor which you will sometimes find in a hard money loan or commercial line of credit. If you cannot get a hold of the title company, make an extra copy of the Mort & TIL and have it done both ways, and ask them in the morning. Shred the ones they don't want.
It would make life MUCH simpler if the lenders would JUST DO THEIR JOB and print the names on the Mort & TIL. More often than not, they don't bother then scream when it's not done properly.
Rule of thumb in Ohio - 1 to buy, 2 to sell, 2 to finance - and always ask title if you do not have standing instructions.
Joan-OH
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