Posted by gripes on 7/6/05 3:24pm Msg #50078
Where on the HUD/Settlement Statement...
do I check to see if there is money due at the signing????????????????????
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Reply by Charm_AL on 7/6/05 3:29pm Msg #50080
at the bottom, 'cash due from norrower' I think it's line 103?
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Reply by Charm_AL on 7/6/05 3:31pm Msg #50081
borrower...typing in the dark here .....n/m
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Reply by gripes on 7/6/05 3:34pm Msg #50082
Line 303 but....
I asked the Escrow/Settlement Co. who hired me and they said I do not have to collect those funds due!
Although I have heard that the borrower(s) have until the close of Escrow to pay the funds.
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Reply by Charm_AL on 7/6/05 3:53pm Msg #50089
Re: Line 303 but....
I've also seen figures on that line and told not to collect...never had a problem if they say not to collect.
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Reply by Ernest_CT on 7/6/05 4:28pm Msg #50093
Just make sure ...
... that you have IN WRITING that you are not to collect the funds at the signing.
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Reply by BrendaTx on 7/6/05 4:55pm Msg #50105
Re: Just make sure ...Ernest, you must have a better
handle on your "bosses" than I do. Or, maybe it's one of the perks of being male.
It doesn't matter what I tell them most of the time...they do what they want to do. It generally works out...I've been lucky that way, though.
b
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Reply by Ernest_CT on 7/6/05 4:58pm Msg #50107
"I just need to protect you and the borrower ...
... in case there are questions." Works like a charm.
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Reply by BrendaTX on 7/6/05 5:02pm Msg #50109
Re: "I just need to protect you and the borrower ... Okay, E
you and my sister need to partner up. Her favorite Phrase that pays is:
"But the liability!"
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Reply by CarolynCO on 7/6/05 5:07pm Msg #50113
Re: Line 303 but....
If the borrowers tell me they have worked out something with the loan/title company and will pay at such and such time, I have the borrowers write a *story*, date and sign and I include it in the package. Or, if the borrowers only have so much money to give me and I can't get a hold of anyone on the phone, I have them do the same thing. I've never been called on the carpet for it.
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Reply by BeccaFL on 7/6/05 6:18pm Msg #50139
Sometimes the buyer will wire the funds. Also, if it is greater than $500 it usually has to be certified funds, some TC's will take a personal check if under $500.
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