2nd deed of trust

[CharlotteInvest]

What is the name of your state? nc

i am in the middle of discounting the second deed of trust via the first lenders request. After looking over the 2nd D.O.T. i notice the borrower signed the agreement but the second lien holder did not.

The original agreement was recorded without the signature 5 years ago. Is the borrower still liable for the agreement since she signed it but both parties did not?

 

[divgradcurl]

What is the name of your state? nc

i am in the middle of discounting the second deed of trust via the first lenders request. After looking over the 2nd D.O.T. i notice the borrower signed the agreement but the second lien holder did not.

The original agreement was recorded without the signature 5 years ago. Is the borrower still liable for the agreement since she signed it but both parties did not?

So long as the party against whom the contract will be enforced signed it, it's valid. So, since the borrower signed the contract, it is enforceable against the borrower.

Besides, even if neither side had signed the contract, evidence of "performance" (i.e., the borrower got money, and has been paying loan payments) is generally sufficient to make the contract enforceable.

 

[CharlotteInvest]

i thought the same thing. just wanted to make sure nothing fishy was going on, since the homeowner never made any payments to my knowledge.

but the second lien holder has been a really responsive person to work with and has an overall great personality, so i think if the deal goes through he should be paid.

Thanks!