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Pud rider

I signed for my house oct 31st an we have since then been living in it last month the settlement co.pany emailed me stating we need to sign a pud rider document it was never brought up at closing or anything an now months later they are saying we need to sign this. Never have they called me then when I looked into it i just didnt like the sounds of it so i emailed back stating i wasnt signing it that we shoulda signed it at closing. Then they called my husband work he is co on the mortgage to have him sign it an sent the contract again. My question is can they pull our loan if we dont sign? by crazyford.kg395 from , California. Jun 14th 2020 Reply

Hans Bruhner (Hans Bruhner)
#133 ranked lender in California - 125 contributions

This type of thing happens from time to time. The PUD Rider simply states that your home is in a Planned Unit Development and it is a rider to the Deed of Trust. This is common with Single family homes and townhomes that pay an HOA fee but are not a condo. You usually sign another form in escrow that states that you will be helpful and comply if they did in fact miss something. I do not know what you have to do or do not have to do since I am not a lawyer but i do not see what you gain by not signing it. The lender may not be able to sell the loan to Fannie Mae or Freddie Mac because of this discrepancy and it was when selling the loan to them that this likely came up. Your mortgage company may need to buy back the loan and that will be a major pain for them. You can make a mess for them or make it easy for them, your call.

Jun 15th 2020
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,703 contributions

It's no big deal, and common to ask for corrections after closing. Just sign it. Also, you did sign a document at closing that said you would help them and resign or correct any documents (like this) that need to be corrected.

Jun 22nd 2020
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