Posted by pat/WA on 4/6/12 2:05pm
Msg #417158

Escrow Instructions

I have never had the disbursement page of the escrow instructions fully explained.

It states the undersigned hereby instruct and authorize Escrow holder to disburse proceeds as follows.

Reply by Patti Corcoran on 4/6/12 3:46pm
Msg #417166

Re: Pat, is there a question here? n/m

Reply by pat/WA on 4/6/12 4:18pm
Msg #417176

Re: Pat, is there a question here?

Yes, why do they ask for proceeds delivery information from the borrower?

Reply by SheilaSJCA on 4/6/12 5:08pm
Msg #417184

Because that is how escrow operates, they take instructions in writing and then implement them. Everything needs to be in writing, they take ony written instructions.
Even if the loan is not a cash out transaction, there may be a refund due them, when all acccounting is settled, so escrow needs to know how the borrowers want any funds (proceeds) issued to them.

Reply by pat/WA on 4/6/12 7:09pm
Msg #417197

Thank you
That is what I have always thought. But, I didn't someone else to agree with me. thank you