I posted this in the State specific forum, but haven't got any hits yets...was wondering if anybody here might have an idea on this...

We have a loan that was a HELOC and a Mortgage with Future Advance Clause was used. Due to some hardships and the death of the husband, the customer had to payoff the HELOC and do a closed end 15 year Fixed Mtg. The Loan Officer pulled the HELOC Mortgage over from the previous file...is that acceptable since it has the Future Advance Clause in there? Shouldn't a new Mortgage without this clause as well as the husband's name removed have been done and recorded?

Thank you

You should direct this question to your attorney, who would be privvy to the existing mortgage form, the new documents and the entire loan transaction.

I wasn't blowing you off, but have found out that so much revolves around not just the old mortgage but how the new note was worded/typed.

I totally understand! Thanks so much!