Carol Kelly wasn’t just any customer of Sovereign Bank. She was an employee — the chief executive’s assistant, in fact.
Yet Kelly and her husband, Tom, found themselves caught in the same kind of mortgage paperwork limbo that thousands of American homeowners have experienced since the financial crisis.
Comments
While I sympathize with this family, this doesn't seem that difficult. In the request for further assurances (the covenant to fix any errors), that obligation fairly can be read to backdate any document. If he would just sign, it sounds like the problem would be solved. What am I -- or this reporter -- missing?
Aside from the fact that backdating a document -- any document -- constitutes fraud. When it says on the document that it was signed on a certain date, that's what it's supposed to mean.
I wouldn't sign a backdated document either. It puts you on shaky legal ground.
really..seems like a favor was done...rightly or wrongly...don't see a big bad bank on this one
For the bank to say - in writing - that they didn't know the property was jointly owned is preposterous. Anyone can look that up online, and banks probably have additional access through special bank programs (as RE agents do).
But why not just sign the documents and change the dates, or add a note that shows it's a correction?
I think you're right that a simple correction would work, as long as the correction was properly dated for the day the correction was made. Backdating a document is not legally sound.
Are they looking for the loan to be forgiven? If they sign the documents, all their wasted time and headaches would be gone and they can go on with their lives.
Hey Kelly's---- Just take the path of least resistance have Mr sign the papers and refinance
and live your life with out more stress
I have been a title examiner for more than twenty years. This makes absolutely no sense. I do not believe that the registry rejected the mortgage. I do believe that Sovereign was incompetent enough not to get a title examination. Something important is missing in this story because it just does not make sense to anyone who understands conveyancing at all.