A “flight to safety” refers to the mass movement of investment funds from stocks to bonds (which are considered much safer investments). Yesterday’s “flight to safety” was triggered by Russia’s massive war maneuvers near the Ukrainian border.
Threats of war typically spark flights to safety and reduce rates, as investors seek the safe haven of bonds.
“Escrow Holdbacks” were a thing of the past for years, but they have returned. We are able to offer them once again, and they will be deal-savers.
An “Escrow Holdback” refers to funds held in escrow (usually seller’s funds) after close, pending the completion of certain repairs. Such holdbacks are absolutely essential in those cases where the seller is not able or willing to complete required repairs prior to the official close of escrow.
An “Escrow Holdback” allows transactions to close on time and necessary repairs to be completed after close. Funds are then released to the relevant parties (contractors usually, with remaining funds to seller) after the lender receives an inspection certification that the repairs have been completed in a satisfactory manner.
Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646
