Power of Attorney
HOC does not restrict the use of a power of attorney for the seller.
HOC requires at least one borrower to attend the settlement in person. HOC prefers that all borrowers attend the settlement in person.
A power of attorney may be used for an absent borrower. The absence must be due to a necessity and not simply some inconvenience.
The power of attorney must be for the specific transaction and not a general power of attorney.
HOC must approve the borrower’s power of attorney before settlement occurs.