Digital or Paper Copies?

After closing on a home loan, the title company will provide borrowers with copies of all documents as either digital and/or paper versions. These days, most people opt for digital copies, but I always advise taking paper copies of a few key documents.

Not much use for this thing anymore…

Paper is Safer

At minimum, you should keep hard copies of the survey and closing disclosure. I also think it is a good idea to keep a hard copy of the note and deed of trust. With a house purchase, the time when you might need these documents is likely to be years in the future, and digital formats are constantly updating. Recently, I saw this in person.

What’s a Floppy Disk?

Last month, I helped my mother move out of her home of many years. One of the things we found was her original closing documents on this 3.5-inch floppy disk, something my kids wouldn’t even recognize. I don’t know the last time I had a computer that would even accept this type of disk. Fortunately, my mom did keep paper copies of the documents, too, so that will make things easier when she’s ready to sell her home.