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#1571838 - 06/29/11 08:38 PM Commercial loan with 2nd home as collateral
tclowes Offline
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Joined: Nov 2006
Posts: 140
We have a commercial loan (in the husband's name only) that is secured by a second home. The second home also is in the husband's name only and was rental property. Does the wife need to sign deed for spousal rights and does she need disclosures?

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#1571971 - 06/30/11 03:45 AM Re: Commercial loan with 2nd home as collateral tclowes
Dani York, CRCM Offline
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Dani York, CRCM
Joined: Apr 2005
Posts: 3,663
To my knowledge, yes she should sign the deed of trust due to her spousal rights. What disclosures would she get if it is a commercial loan? The only thing that comes to mind is the appraisal disclosure, but that goes to borrowers. SHe is not a borrower.
I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.

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