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Can Borrowers Pre-sign the Closing Documents?

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We have a borrower who will be out of state on the closing day of their purchase money mortgage. Are there any issues with having the borrowers pre-sign the closing documents? (For example, the closing is on 10/01 and all the docs are dated 10/01, but the docs are signed and notarized 09/27.)

And what attorney is going to defend the bank's position if the funds are advanced on 10/2 and several days later it's discovered that the principal borrower died on 9/28?

First published on 11/10/2019

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