Tag Archive for: escrow

Homeowner’s Insurance Is Delaying Escrows; Watch For Hidden Points!

I have blogged a few times now about California’s Homeowner’s Insurance Debacle. TLDR: A lot of insurers exited the CA market, and it is now much more difficult to find […]Read More

Don’t Deposit Gift Funds, Please! (Straight to Escrow)

It is well-known that buyers can use “gift funds” from a relative to help with the purchase of a home. But, we want to again remind buyers to not deposit […]Read More

Impound or Escrow Accounts & Why We Do Not Recommend Them

Impound or escrow accounts are maintained by lenders or servicers and are set up to allow buyers to pay their property taxes and hazard insurance on a pro-rata monthly basis […]Read More

What Borrowers Need to Know about Escrow and Prepaid Items

Many borrowers are confused when it comes to prepaid items and escrow accounts and what role they play when it comes time to figuring out closing costs. Here is a breakdown of all the information borrowers need to know about escrow and prepaid items for their home loan.Read More

What Is An Escrow Holdback?

We recently had a deal on a cute condo with a loft area. The issue was there was no railing on the area of the loft adjacent to the stairwell, […]Read More

Reminders: Amendatory Clause; RPA Signatures; Seller = LLC; Deceased Seller

FHA and VA Amendatory Clause. This form is required for all VA and FHA loans. It lets buyers know they are entitled to the appraisal and not bound to buy […]Read More

Helping Lender Close On Time: Complete/Clean Contracts & Addenda a Must

We often remind Realtors, Escrow Officers and Borrowers that “everyone has to be on board” if we are going to close on time, especially if we’re closing in 15 days. […]Read More

If a Buyer Is “On” The Loan, He Must Also Be “On” Title; “Title Only” Always OK

We often get questions about whether buyers can be on the loan, but not on title and vice versa (on title but not on the loan). If a borrower is […]Read More

JVM Now Has 15 Day Close; Same As Cash; We’re For Real

We are pleased to announce our “Fast 15!” We are shortening our fast escrows from 17 days to 15 days. We are able to do this b/c we have learned […]Read More

Seeing the Unforeseeable – Not Possible; No Crystal Ball

We often pre-approve very strong borrowers only to see their transactions come to a halt after they get into escrow b/c of unforeseen circumstances. Invariably, we get terse emails from […]Read More

Impounds vs. No Impounds; Sometimes No Choice

We often get asked for advice in regard to taking an impound account or not. An impound (or escrow) account is an account held by a lender or a servicer […]Read More

Converting “Cash” to Down Payment Funds – Gifts

We frequently have borrowers with substantial sums of cash that they want to use for a down payment. They cannot simply deposit the funds in escrow or into their bank […]Read More