repairs: When Can Funds Be Put In Escrow For Repairs? - 01/02/17 03:11 PM
It is not uncommon for a Realtor or a Borrower to ask me if funds can be put into escrow so repairs can be done after the closing.  The answer is both a YES and NO answer.  So When Can Funds Be Put In Escrow For Repairs?
First of all the only Loan Products I am ware of which allow for funds to be put into escrow for repairs after the loan Closes are Fannie Mae Homepath Loans on Fannie Mae REO Properties, FHA 203K, and FHA Loans on FHA/HUD owned properties.  HUD will not make repairs prior to the Closing, and … (26 comments)

repairs: When Are Funds Allowed To Be Put In Escrow For Repairs? - 05/22/14 10:01 PM
Lenn Harley raised some excellent points in her blog "Repair Escrow?? Perhaps. Perhaps Not. Check With Your Lender."  Lenn was also correct when she responded to my comment and stated "I've had HUD escrows for repairs.  Not fun.  Conventional loans with repair escrows are virtually a thing of the past.  Still, I'll hear agents discussing them like they were an everyday occurrence."  Any Agent who thinks escrowing for repairs is a given, they are not dealing with reality.  So When Are Funds Allowed To Be Put In Escrow For Repairs?
The only Loan Products I am ware of which allow for funds … (40 comments)

 
George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) Ambassador large

George Souto

Your Connecticut Mortgage Expert

Middletown, CT

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George Souto NMLS #65149 FHA, CHFA, VA Mortgages

Address: One Liberty Sq., PO Box 1000, New Britain, Ct, 06050

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