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????????????????????

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?

Reply by Charm_AL on 7/6/05 3:31pm
Msg #50081

borrower...typing in the dark here .....n/m

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.

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.

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.

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

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.

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!"

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.

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.