So Flo Signing Agent are experts in verifying signatures on Home Equity Line of Credit (HELOC) loan documents, making them legally binding and preventing fraud, ensuring the borrower signs willingly and understands the terms for using their home’s equity as a revolving credit line. The notary confirms identities, witnesses signings of documents like promissory notes and mortgages, and applies their official seal, a crucial step for lenders and title companies.
What a HELOC is:
Home Equity Line of Credit: A flexible loan allowing homeowners to borrow against their home’s equity (the difference between its market value and what’s owed).
Revolving Credit: Like a credit card, you can draw funds as needed up to a set limit and only pay interest on the amount you use.
The Notary’s Role in a HELOC:
Identity Verification: Checks government-issued ID to confirm the borrower is who they say they are.
Witnessing Signatures: Observes the borrower signing key documents (Promissory Note, Deed of Trust/Mortgage).
Legal Authentication: Affixes their seal, making the documents official and legally valid for lenders and government records.
Ensuring Understanding: Confirms the borrower understands the terms of the agreement, protecting both parties.
