| Author |
Message |
Loves2Sing
Joined: 03 Aug 2006
Posts: 3
|
 Posted: Mon Apr 28, 2003 4:57 am Post subject: For Mortgage brokers: Do the home possible programs offer es |
 |
|
| thanks. |
|
| Back to top |
|
 |
BarryC
Joined: 09 Sep 2005
Posts: 8
|
| Posted: Thu May 15, 2003 6:38 am Post subject: For Mortgage brokers: Do the home possible programs offer es |
|
|
| Yes, under certain conditions. You need to check with the lender you what to do business with to see whether they offer the escrow waiver or not. There are goods and bads to you having an escrow waiver. Check with a local trusted advisor before you make your decision. |
|
| Back to top |
|
|
Simone
Joined: 09 Oct 2004
Posts: 4
|
| Posted: Sun Jun 01, 2003 8:19 am Post subject: For Mortgage brokers: Do the home possible programs offer es |
|
|
| I just went through my guidelines on the Home Possible program and did not find specific information regarding escrows. I want to say yes, you can waive escrows with this program, but my gut tells me no, you can't.This is a loan program designed for folks who may not have enough money to close, so Freddie Mac allows flexible sources of funding closing costs and expenses. Because these loans are generally written for folks with little cash, the bank is most likely going to want to take care of the taxes. Banks do not want you to have a tax foreclosure.I will find out on Monday the exact details of the escrow waiver on this program for you. I have the most knowledgeable processor in the business. I'll check back in then and give an update. (Or hopefully someone else comes up with the exact info sooner).Good luck and best wishes! |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
