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Posted by  Linda_H/FL on 3/31/15 11:56am
So, from what I read here, this would make the entire country an escrow state for funding purposes, no matter of the type of transaction. I see disaster at the closing table for purchasers whose moving van in parked in front of their new home and sellers who need to get that payoff out that day.
Are you sure they weren't referring to the 3-day requirement for provision of the HUD? Which would basically extend the rescission period on refi's to 6 days (3 business days post closing plus provision of HUD 3 days prior) - providing the HUD 3 days in advance would be required on all transactions, including investments, second homes and purchases/sales.
Like I said - my head's not wrapping around this for some reason. |
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