Skip to content
BOL Conferences
Thread Options
#1768266 - 12/18/12 04:36 PM Refinance loan to a trust
morirse de risa Offline
100 Club
Joined: Feb 2009
Posts: 238
Midwest
We have a couple who applied as individuals for refinance that applied as joint tenants. When we got the title it stated that the property is held as a living trust with the two individuals as Trustees. How will this change our documents and what do we need to do since we initially disclosed it as an individual held property and it is actually a Trust?

Thank you for any help you can provide!

Return to Top
Lending Compliance
#1768275 - 12/18/12 04:46 PM Re: Refinance loan to a trust morirse de risa
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,229
Galveston, TX
This is really a question for your attorney. If the living trust allows the trust to pledge assets for loans to them personally, it is just a matter of getting your notes and security agreements in order. Of course you need to clarify what they are really trying to do.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1768501 - 12/18/12 08:24 PM Re: Refinance loan to a trust morirse de risa
morirse de risa Offline
100 Club
Joined: Feb 2009
Posts: 238
Midwest
Thanks for your help - much appreciated.

Return to Top

Moderator:  Andy_Z