Deeds and Loan Signings

Today I did a loan signing, where the loan pages and deed had the wrong last name for the wife. I see this from time to time. The reasons for this occuring are many. But it important to consider that by the time the signers get their loan documents, those pages have gone through the hands of many folks that are part of the whole loan process. And needless to say, since there many people are involved in the course of a loan package, people make mistakes.

Since this is the case, it is good for signers to look over their documents before having the notary, that they have scheduled, arrive. Deeds are very important documents. Some lenders and county recorders will accept a hand corrected document, some won't. If you find an error on your documents, it is good to contact the escrow company immediately to alert them to the error and ask how they would recommend the signers proceed. Sometimes the solution may simply be to line through the error, neatly print the correct information, and then have all signers initial that correction. Many times this is all the is needed, but it is best to refer to the escrow company for specific directions.

If you have your documents on hand, clearly your loan is ready to go and time is of the essense. If you can't reach the escrow company, then you must decide. If you sign incorrect documents, you may have difficulties in the future with a deed that lists a name that you can't show identification for. On the other hand, if you neatly line through, correct and initial, you have a good chance that the document will be accepted. The only alternative is to hold off on signing the loan package and ask that the documents be redrawn. If escrow contact in not available during the time of the signing, I always vote for going ahead with the signing, making the appropriate corrections, as at least there is a chance escrow will say they are acceptable. If not, then the docs need to be redrawn anyway and at least there was a chance that the documents would have been accepted with the corrections.

The best course of action, of course, is to review your documents as soon as you get them and while the escrow or title company is still open during their business day.

If you need to schedule notary service for a loan signing, please call me at 805.444.2366.

Devon the notary