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#2103322 - 10/17/16 07:57 PM Address Change in middle of the Process
mdog76 Offline
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Joined: Jan 2007
Posts: 645
Has anyone had this problem before? Subject lot sits on a corner of two different streets. Loan was started under one address then they decide to put the driveway on other side of the lot which changes the street address. Theoretically we will have loan docs with two separate street addresses. Does the docs need to be changed to reflect the new street address of the property being taken as collateral?

Thank you.

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#2103326 - 10/17/16 08:17 PM Re: Address Change in middle of the Process mdog76
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,395
The property only has one true address so there's no theoretical aspect to deal with here.
You document the file as to when and why the address was modified and close with the true address, not the one that's on the original application.

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#2103328 - 10/17/16 08:23 PM Re: Address Change in middle of the Process mdog76
mdog76 Offline
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Joined: Jan 2007
Posts: 645
So a simple memo to file would resolve this issue?

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#2103357 - 10/18/16 12:52 AM Re: Address Change in middle of the Process mdog76
Rocky P Online
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Joined: Jun 2003
Posts: 7,650
Florida
I would back it up with documentation from the USPS, Survey, etc reflecting the change
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