Posted by Barbara___IL on 11/29/12 12:08pm
Msg #445042

re: ILLINOIS ADDENDUM TO RESIDENTIAL MORTGAGE LOAN APP

I have a question on the ILLINOIS ADDENDUM TO RESIDENTIAL MORTGAGE LOAN APPLICATION doc which asks if the borrowers are in a civil union. Maybe one of you could help me out. I'd appreciate it.

The couple is married, so they will answer NO on the first question. On the second question should they answer YES and put in each other's name where it says if YES, who may be able to claim such interest? I always thought they should answer NO on both questions, but I think I may have been wrong all this time.

Thanks.

Reply by C. Rivera Chicago Notary Services on 11/29/12 12:12pm
Msg #445043

they should only fill out what applies to them...

civil union is specifically for same sex marriages. I don't have form in front of me, but do know which one you are referring to.

Reply by Barbara___IL on 11/29/12 12:30pm
Msg #445047

Re: they should only fill out what applies to them...

Thank you.

Reply by Linda Juenger on 11/29/12 12:33pm
Msg #445049

Re: they should only fill out what applies to them...

I present the form, briefly tell them what it is for and ask them to check the appropriate box(s). I do not in any way give advice on this. If they check box 2, fine, if not, that's fine too. Not my business.

Reply by Barbara___IL on 11/29/12 12:54pm
Msg #445053

Re: they should only fill out what applies to them...

I have never had a signing with a couple in a civil union.

I tell the borrowers to fill in what applies to them, but everyone is filling out Question 2 with NO. When I had a signing where the loan officer was present, he told them to check YES for question 2 and write in each others name where it says name. When you read question 2, that makes sense.

Question 2: Can anyone, other than you, claim a homestead interest, community property interest, survivorship right, any spousal rights, or other interest, in the property that will secure repayment of the loan?

If YES, who may be able to claim such interest? (loan officer told husband and wife to put each other's name there).

Thanks for the input.

Reply by C. Rivera Chicago Notary Services on 11/29/12 1:03pm
Msg #445054

sorry, I was referring to a totally different form... :( n/m

Reply by Barbara___IL on 11/29/12 1:09pm
Msg #445056

Re: sorry, I was referring to a totally different form... :(

That's OK. I forgot there are 2 forms.

I think I'll just follow that loan officer's lead.

Reply by Linda Juenger on 11/29/12 1:31pm
Msg #445059

Re: sorry, I was referring to a totally different form... :(

Makes sense I guess, however I think the borrowers think that "someone" else means that, someone "OTHER" than who is signing the loan at this given moment. Actually, that's how I read it too until you brought this up. hmm See why we do NOT advise borrowers what to sign and check? Not our job.