Posted by notarydi/CA on 3/6/13 12:54am
Msg #459429

my first refusal to sign.....

Mrs. answers the door and says, "I think I'm in labor. We're not doing this tonight."

Reply by Tim Cameron on 3/6/13 1:19am
Msg #459432

LOL....thats a reason I haven't got....had one tonight...the borrower was going to save 5.00 dollars a month and add 8,500 to her mortgage

Reply by Treasure Valley Notary - Tina on 3/6/13 2:03am
Msg #459436

That's Crazy

Oh my, I sure hope that she didn't sign. Yikes. That doesn't seem to be a good deal at all. I've seen that before and the worst part is not saying anything. But I'm not there to sell or unsell a loan. Figure that if they are refinancing they are adults and buyer beware. Sounds harsh, but sometimes you just can't save people from stupidity. (Unless of course it is elder abuse - that would be different).

Reply by Claudine Osborne on 3/6/13 6:36am
Msg #459443

Re: That's Crazy

I had one closing last year that I was told that the woman was in labor and to bring my gloves..lol She was not in labor but was going to be induced right after the signing. They were Amish and when we were finished their driver was waiting..

Reply by desktopfull on 3/6/13 6:55am
Msg #459446

Did you look at the amortization schedule to see if the increase applied to principle was considerably higher per payment, which builds equity faster? Or, did they go from a 30 yr. to a 15 yr. which would make the payment about the same but knock years off the loan. Unless you completely analyze both loans it's hard to tell the reason that a borrower would sign a new mortgage.

Reply by Tim Cameron on 3/6/13 7:52am
Msg #459457

I've been a real estate agent for 32 years and was a LO for almost 4 years doing loans for my clients and friends......so yes, I understood the two loans.....to be clear, I didn't kill the loan, but once she refused to sign we discussed what she was saving, how much it was costing her, and since she was a disabled vet, how to get her property taxes lowered.....

Reply by Pam/NM on 3/6/13 8:48am
Msg #459472

I got a call from my favorite local title co.

asking if I could be across town in an hour. Picked docs up from title, got to the door and we started the signing, pausing frequently to breathe thru contractions (I've coached my sisters-in-law and friends in labor before, even considered becoming a doula). By the time we finished, b/o's contractions were 4 mins apart. Their lock was expiring, they made it to the hospital and the loan funded without a hitch. I don't think they named the baby after me tho.... haha

Reply by Donna Rosato on 3/7/13 7:07am
Msg #459740

Re: I got a call from my favorite local title co.

That is just wild Pam! I cannot even imagine doing a signing with that going on!

Reply by VT_Syrup on 3/7/13 7:30am
Msg #459745

Re: I got a call from my favorite local title co.

If the closing went like some of the other ones discussed on the forum, the signers would have made sure the name was different from Dad so there would never be a suffix like junior, and they would not have given the baby a middle name.