Left Over Money In Escrow
When you buy a home to rehab, and get the hard money loan for everything, and after it's complete say there is still another draw left in escrow, do you get that money or is that credited to your loan when you refinance?
Just curious because I closed on a home today and I think they gave me more than I'll need for the rehab...which is also good incase I under estimated something.
JB
[addsig]
Check your mortgage and note papers. It would be outlined in detail. I have seen it boths ways, you get the money, or it comes off of the principle, but I have never seen it taken off and reammorittized.
Lori
[addsig]