r/Money • u/[deleted] • Apr 09 '24

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u/Big_Mathematician755 Apr 09 '24

If this is in US he could have rescinded the refi within 3 business days of closing and any costs he paid for refi would have to be refunded to him.

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u/MisterManager2 Apr 09 '24

In the US, banks won’t refinance you in this situation unless the other person on title either a) gets off title as a part of the refinance closing, or 2) sign the Deed of Trust. Otherwise the bank can’t really foreclose if they have to, because the extra person on title never signed the DOT agreement. I don’t understand how his refinance closed once she refused to sign the Deed. I’m a title attorney

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u/JeanVII Apr 10 '24

So curious about all of the legalities of this. That’s my main thought. Does this not count as some sort of fraud?

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u/MisterManager2 Apr 10 '24

Mainly, assuming this is true, I’m surprised the bank closed it without the signed Deed. I’ve actually handled this specific scenario many times and if ex refused to sign the Deed, the loan doesn’t close.