Mortgages for properties vested in a guardianship or conservatorship

When the borrower is incapacitated and there is a court-ordered conservator or guardian, the vesting needs to be in the name of the conservatorship or guardianship.  The conservator or guardian signs the security instrument (the signature lines must match the vesting).  If a conservatorship or guardianship is established, a power of attorney is no longer valid.

Items needed for submission include:
Letters of Conservatorship or Letters of Guardianship
Preliminary title report
Written statement from borrower indicating purpose of transaction
If guardianship is a result of an irrevocable trust then provide a copy of the trust

Definitions

Guardianship - A legal form of ownership where the person named as the guardian is responsible for the welfare and property of a minor child whom the law regards as an incompetent person.

Conservatorship - A legal form of ownership where the person named as the conservator is responsible for the welfare and property of a person who has been ruled incompetent.

Types of financing eligible for vesting in a guardianship or conservatorship

Most mortgage loans, including low doc, should be eligible for this type of vesting, subject to review and approval.  The rates and fees should not be any higher than standard financing.

Questions?  Call Bill Meyers toll free at  877-994-9589 or 239-566-8484 or e-mail bill@marcoislandmortgage.com

This website is not a solicitation for mortgage brokers
Rates vary with geographic location, lender, transaction type, credit scores and other factors
APR is abbreviation for annual percentage rate
Rates change frequently and these rates may not reflect the latest market conditions
Expressed interest rate may change or be unavailable at commitment or closing
Most rates based on primary residence, purchase transaction
Cash out refinance rates may be slightly higher
Some loans may have pre-payment penalties
Rates on some programs may require higher down payments
This is only a brief summary of rates and programs and possible fees, call for additional information on underwriting requirements
and program limitations.  Guidelines and rates posted here are general in nature and subject to change without notice. 
Rates must be locked by phone or in person.
Mortgage calculators are believed to be accurate but results are not guaranteed
All information published on this web site is believed to be accurate but cannot be guaranteed, errors may occur
This site has been built and is maintained by Bill Meyers

Bill Meyers is employed as a  mortgage loan consultant for one of the nation's largest residential lenders.  Bill works as an employee and not a mortgage broker.  This is Bill's personal web site and not the official web site of  any bank or mortgage company.  Please consider all information posted on this site to be general in nature and representative of mortgage rates and policies that may be available from various sources.  Bill is located on Marco Island Florida.  Bill can be reached on his cell phone at (239)566-8484

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