Re: What is the purpose of the Interim Interest Payment

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Re: What is the purpose of the Interim Interest Payment
Posted by Luckydog of FL on 5/30/16 12:16pm	Msg #553226

That's is def. something we would not discuss at a closing and call the LO. This is also discussed with buyer well in advance of us getting there. You cannot go into those details what so ever.

It could be several things, but I believe it is the difference between paying a full months interest vs a pro rated amount.
Lets say Nancy closed on the 25th of May, but didn't want to make a full payment until August... I believe is the difference of interest working it out. Not sure, and would never attempt to figure this out. If the buyer needs explanation, they need to call their LO or their attorney.

Messages in this Thread
	What is the purpose of the Interim Interest Payment - CH2inCA on 5/30/16 12:05pm
	Re: What is the purpose of the Interim Interest Payment - Luckydog on 5/30/16 12:16pm
	I agree, Luckdog. I do not explain how nos. are arrived at. - MW/VA on 5/30/16 3:49pm
	Luckdog is right. NOT OUR OPTION to discuss details! n/m - Ernest__CT on 5/30/16 3:54pm
	Re: What is the purpose of the Interim Interest Payment - coastal/CA on 5/30/16 12:24pm
	So possibly the disbursment date would change? - CH2inCA on 5/30/16 12:31pm
	I think above post is most accurate, as I understand it - JanetK_CA on 5/30/16 5:38pm
	Here's how I learned about INTERIM INTEREST PREPAYMENT - Cheryl Elliott on 5/30/16 1:01pm
	I think this applies to the prorated interest on the CD n/m - JanetK_CA on 5/30/16 5:41pm
	Yikes!!! n/m - NVLSlady/VA on 5/30/16 1:26pm
	Yikes is right, I was totally off base. n/m - Luckydog on 5/30/16 2:18pm
	I guess my question really is... - CH2inCA on 5/30/16 2:26pm
	Do NOT give your opinions! - Ernest__CT on 5/30/16 3:59pm
	Absolutely, we may not discuss how numbers are arrived at - Cheryl Elliott on 5/30/16 4:28pm
	Re: What is the purpose of the Interim Interest Payment - NVLSlady/VA on 5/30/16 5:24pm
	You;re not there to explain anything to the BO... - Cari on 5/31/16 11:20am
	:0) I guess I worded my question and posts wrong - CH2inCA on 5/31/16 11:50am
	Technically, no they don't. But they have to - Linda_H/FL on 5/31/16 12:16pm
	Re: Interest Disclosure - Bravo on 5/31/16 12:25pm
	Bravo, Bravo! n/m - Cheryl Elliott on 5/31/16 1:44pm
	Re: Bravo, Bravo! - VonMots on 5/31/16 3:39pm
	Maybe these links will help... - JanetK_CA on 5/31/16 4:27pm

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