Posted on: 31st Jan, 2009 02:35 am
Greetings,
I have ran in to a peculiar problem (in California). I'll try my best to be brief and precise.
I am currently doing a Re-Fi and docs are ready to be signed. My home is held in a revocable trust, with me as the trustee.
The problem is that my first name on my drivers license is "Mitch", but the first name on the deed held in the trust, is "Mitchell" (my full legal first name).
My mortgage person says either the deed has to be changed to match my photo ID, or I have to get a new drivers license with my full name (I do not have a passport or other picture ID). This requirement as a result of the patriot act.
My DMV states it will take up to 60 days to receive a new license, after applying.
My other option is to have the attorney that created the trust change the (first) name on the deed to "Mitch". I am concerned about timing, or how long this might take? I have not talked to the attorney yet, as I have just learned of this.
Any advice greatly appreciated…
Mitch
I have ran in to a peculiar problem (in California). I'll try my best to be brief and precise.
I am currently doing a Re-Fi and docs are ready to be signed. My home is held in a revocable trust, with me as the trustee.
The problem is that my first name on my drivers license is "Mitch", but the first name on the deed held in the trust, is "Mitchell" (my full legal first name).
My mortgage person says either the deed has to be changed to match my photo ID, or I have to get a new drivers license with my full name (I do not have a passport or other picture ID). This requirement as a result of the patriot act.
My DMV states it will take up to 60 days to receive a new license, after applying.
My other option is to have the attorney that created the trust change the (first) name on the deed to "Mitch". I am concerned about timing, or how long this might take? I have not talked to the attorney yet, as I have just learned of this.
Any advice greatly appreciated…
Mitch
i find it hard to believe that you'd have to get a new driver's license to match up with how you hold title on your home.
changing a name on the title isn't a big deal - it could be done in tandem with the mortgage.
my question (throwing up my hands in frustration) is this: what ever happened to common sense in the mortgage industry?
changing a name on the title isn't a big deal - it could be done in tandem with the mortgage.
my question (throwing up my hands in frustration) is this: what ever happened to common sense in the mortgage industry?
George,
Thanks for your reply. I asked the same question (regarding common sense), and the reply was "the Patriot Act". I can provide a stack of documents to prove it's really me (burth cert, etc.), but unless I have a photo ID such as a drivers license, Passport, or DMV ID, I was told nothing else will do...name on photo ID MUST match name on deed (only because I have my home in a trust).
I've signed closing docs maybe a dozen times during my life, and it's never been an issue until now.
Thanks very much,
Mitch
Thanks for your reply. I asked the same question (regarding common sense), and the reply was "the Patriot Act". I can provide a stack of documents to prove it's really me (burth cert, etc.), but unless I have a photo ID such as a drivers license, Passport, or DMV ID, I was told nothing else will do...name on photo ID MUST match name on deed (only because I have my home in a trust).
I've signed closing docs maybe a dozen times during my life, and it's never been an issue until now.
Thanks very much,
Mitch
PS My mortgage person says I may be able to re-file the new grant deed (with the name change) at the time of closing. I do not understand this subject well at all, so I hope I conveyed this accurately...
Thanks again,
Mitch
or
Mitchell
Thanks again,
Mitch
or
Mitchell
just have the closing agent draw up a quitclaim deed from you as trustee of your trust, to "Mitch" as trustee. easy...
just have the closing agent draw up a quitclaim deed from you as trustee of your trust, to "Mitch" as trustee. easy...
Thank you very much Bill, I'll have that done...
Mitch
Mitch
"the patriot act" also known by me as "ashcroft's folly."
it was a way for ashcroft in his infinite "wisdom" as attorney general of these united states to strip americans of some more of their freedom.
mitch, i feel your pain...but as suggested, just have a new deed recorded at the same time as the closing.
i'm just thankful we have new, quality leadership in washington these days.
it was a way for ashcroft in his infinite "wisdom" as attorney general of these united states to strip americans of some more of their freedom.
mitch, i feel your pain...but as suggested, just have a new deed recorded at the same time as the closing.
i'm just thankful we have new, quality leadership in washington these days.
"just have the closing agent draw up a quitclaim deed from you as trustee of your trust, to "Mitch" as trustee. easy..."
Well, not my banker, LOL. Just came from my attn, and he recommended changing the title to "full name", AKA "name on DL", but the mortgage Co is checking to see if that is OK!
What a hassle...
Thanks folks,
Mitch
Well, not my banker, LOL. Just came from my attn, and he recommended changing the title to "full name", AKA "name on DL", but the mortgage Co is checking to see if that is OK!
What a hassle...
Thanks folks,
Mitch