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Closing or Settlement >Escrow Rules
The lender is allowed to accumulate a borrower's payments up to a two-month advance cushion at the end of a year. But if a surplus develops beyond this amount, the borrower is now entitled to an immediate refund unless the surplus is less than $50. These rules apply to new loans.
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Teri Maxwell RE/MAX at Mallard Creek 8950 Highway 64, #104 Lakeland, TN 38002 Direct: 901-634-7201 Office: 901-507-5900 Fax: 901-507-5901 terimaxwell@NUMBER1EXPERT.com
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