Posted by CarolF/NC on 10/22/13 6:45pm
Msg #489185

NonBorrowing Spouse on HUD?

I have not seen this in NC. Spouse is not on Note, but on HUD as a borrower. Can anyone tell me why this would be? Thanks in advance...

Reply by Anthony Bessey on 10/22/13 7:42pm
Msg #489197

That can go either way. When the attorney that trained me explained this 11 years ago, he stated that like the Mortgage, the TIL, Correction Agreement, and Rescission having the non-borrowing spouse sign the HUD further insures that the non-borrowing spouse is aware of and on board with what the borrowing spouse is doing. I have no seen this at all in the last few years.

Reply by CarolF/NC on 10/22/13 7:46pm
Msg #489200

Thank you. n/m

Reply by MW/VA on 10/22/13 7:56pm
Msg #489205

Yes. I've seen it both ways, too. The transaction affects the non-borrowers financial interest in the property. It's not my call to make--the lender makes that decision.

Reply by Claudine Osborne on 10/22/13 9:50pm
Msg #489232

I have seen this as well..
Its not our call..Just have them sign.

Reply by JanetK_CA on 10/23/13 2:34am
Msg #489282

I agree with Anthony's comment. I nearly always see a non-borrowing spouse on most title/escrow docs, unless there's a Deed taking that person off title of the property completely. As a co-owner, in my state at least (and I would think this would be true in most states), the non-borrowing spouse has a right to know about the financial details of the transaction. Same reasons they sign the DOT/Mortgage.