Today, November 5, 2019, at Mrs. Thompson office I sat in on her closing of a couple who had to use the power of attorney to sell the client’s mothers home. The power of attorney means that if the buyer or seller is unable to be at the meeting whether ill or injured then they give the right to another person they trust to sign the documents required so that the process will not be further delayed.

This couple had to sign all the usual documents like funding documents, settlement statements, interest lock agreement, load commitment rate, mortgage insurance papers, loan application. They had to sign the W9, the happy document. The W9 form is the happy document because it is why the buyer is buying the house. But one of the most simple forms that has to be signed is a form that has barely any words on it saying that you can move into the home.

Like at every closing the buyer has to sign a security deed. Once signed if the new owner fails to pay the mortgage then the house is collateral. If it get to that point then the local county court has the right to sell your property on the court steps but to fix the problem you have to make sure you are on the right steps or else it will be gone for good.

Escrow is the record of money paid for the house with the taxes and insurance. This is kept by a third party, like Mrs. Thompson. Escrow can change when the taxes are increased or decreased.

When buying a house there is a paper that has to be signed with all the names that the buyers has legally used. For example, if they subscribe to a magazine and use the name John Doe they have to write it down, if they have a credit card with the name J. Doe they have to write and sign it so that the credit company knows and there will be no mix ups or miss identification.

Once all the papers were signed the last one is the homestead exemption which is filled out at the court weeks after the closing and once that paper work goes through then the Mrs. Thompson will send the buyer the deed.

The amount of papers that were printed to be signed were about three or four inches. It is mind blowing every time because some of the papers require two or three signature from both joint stead owners.

Today, October 15, 2019, I shadowed Mrs. Jill Thompson at her law office. She closing on a house for a couple moving into Providence on Bass Road in Macon, GA. There the couple and Mrs. Thompson signed multiple pages containing many different contracts and forms. Some of these forms include a security dead, home owner association, W9, escrow taxes, property taxes, and joint credit document ect.

I learned that when buying a house it requires a lot of papers and a lot of signatures. I also learned that mortgages are one of the biggest investment a couple or individual can make. They usually last for thirty – years depending on how fast or slow you make the payments. At this meeting the couple signed a security deed that meant if they fail to pay the loan then the house is would be the collateral. If they failed to pay then the bank could sell the house on the court steps after they have published the foreclose in the newspaper. Since the couple were buying a house in an established neighborhood with a homeowner association they had to sign a plan unit development document. I also learned that loan companies like Robins Federal and Wells Fargo can sell your mortgage. This doesn’t effect the homeowner at all it just means that the place you send the check has changed. The buyers had to also sign a W9 form that deals with interest rates it is used by a third party like Mrs. Thompson. The couple were joint creditors, which means that they both own the house equally and that if one died they other immediately got the house.

Lastly once all the papers have gone through and the new homeowners apply for homestead exemption. If it goes through this means that the couple would not have to pay the property taxes.

Buying a house takes a lot of work and a lot of signing papers. The buyer and seller both have to have their ducks in a row because if you don’t have your credit or don’t wire the money the right way or to the right person it can create a nightmare.

What you get by achieving your goals is not as important as what you become by achieving your goals.

Zig Ziglar

Through my experience this year, I hope to gain more knowledge about the works of law, steps in the legal process and the need for it and the different types. Their are many different types and steps about law that gets complicated and I just want to be able to sort a bit of it out to see if I would be successful in this career.

With this experience my long term goal unrelated to law would be to master time management and multitasking. This is important because I will be going through this program while still in school and participating in sports. With all this going on I will be forced to learn and I hope to carry this life skill with me through out college and into my career.

I hope to be able to experience as much as I can of the different law practices. I would love to go to court and see how lawyers prepare, then get in there and come across a conflict then react. If the lawyer that I shadows allows I want to be able to watch as a new case comes in and follow it, hopefully to its end if not then see the end of another case. Essentially see the beginning process of a case and the end and the day to day of law.