Loan for 2nd Home-Closing Papers/Closing Package

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Question:

We have a loan that we are working on that is a purchase of a second home. The borrowers are son and daughter in law and mom. Son and daughter in law live in Michigan, mom lives in Florida. * How do we get the closing papers signed and what should they be dated? * Do we send two closing packages, one to each and then combine them, or send one closing package and have the son and daughter in law forward to mom? * Can they date the documents before the closing?

Answer:

This is really a state law issue as there may be particulars as to the closing. The simplest way to get this done would be using E-SIGN as both Michigan and Florida have laws allowing Remote Online Notarization which allow you to do the entire process online now, assuming you can have the documents e-recorded at the county.

This allows for one package, plenty of time for doc review and a safe closing any number of miles apart.