Posted on: 14th Jul, 2010 10:12 am
Greetings,
I've been told that to close an A6 loan, I need to travel to Texas to do the signing, as opposed to them mailing the paperwork to me in Virginia and letting me do it here with a notary's help, or some other method of verification.
Ever heard of this, and is it true?
Thanks much,
Mike
I've been told that to close an A6 loan, I need to travel to Texas to do the signing, as opposed to them mailing the paperwork to me in Virginia and letting me do it here with a notary's help, or some other method of verification.
Ever heard of this, and is it true?
Thanks much,
Mike
Well, since an A-6 loans are rolled up into the Texas Homestead Act and usually only apply to houses subject to the Texas Homestead exemption which has residency requirements, if you live out of state, you may not be qualified for the Homestead Exemption. You should probably consult an attorney who is experienced in real estate transactions in Texas to determine this.
Quoting from the State of Texas web site, "To qualify for a homestead exemption, you must own and reside in your home on January 1 of the tax year. If you temporarily move away from your home, you still can qualify for an exemption if you dont establish another principal residence and you intend to return in a period of less than two (2) years. Homeowners in military service outside the U.S. or in a facility providing services related to health, infirmity or aging may exceed the two year period."
Quoting from the State of Texas web site, "To qualify for a homestead exemption, you must own and reside in your home on January 1 of the tax year. If you temporarily move away from your home, you still can qualify for an exemption if you dont establish another principal residence and you intend to return in a period of less than two (2) years. Homeowners in military service outside the U.S. or in a facility providing services related to health, infirmity or aging may exceed the two year period."
Thanks Lisa,
This loan has been the re-fi from hell with 'B of A' and has taken almost 4 months of jumping thru hoops, all with a decent income and a decent credit score incidentally. Anyway we're at the end (hopefully) and have been notified it's time to sign but now we're being told we have to go to Texas to appear in person to sign at the title company.
FYI: We currently own the house in Texas, am renting it to my kid, and am renting ourselves here in Virginia. We may be back in 2 years or less, but can't be certain.
Thanks again,
This loan has been the re-fi from hell with 'B of A' and has taken almost 4 months of jumping thru hoops, all with a decent income and a decent credit score incidentally. Anyway we're at the end (hopefully) and have been notified it's time to sign but now we're being told we have to go to Texas to appear in person to sign at the title company.
FYI: We currently own the house in Texas, am renting it to my kid, and am renting ourselves here in Virginia. We may be back in 2 years or less, but can't be certain.
Thanks again,