Cashing Escrow Balance Refund Check
I bought a home sub 2 on 09/05 and sold the property on 12/05
Now I received an escrow refund check in the old owners name from Wash Mutual.
How can I deposit this check in my personal account??
I feel this is my money because when I reinstated the mortgage when I purchased the home the escrow balance was a negative. I have little chance of finding the old owner if I need him to sign some type of document
Thanks,
David
This is why you should always receive from the Sellers a Power of Attorney.
Since you didn’t and cant, deposit into your checking account and hope that "Your" bank doesn’t kick it back as most large banks no longer verify depositors signatures...
DO NOT put it through an ATM machine as they verify the name on the check against the name on the account.
DO NOT sign the sellers name to the back, just sign yours.. Signing theirs is forgery…
Good Luck
[addsig]
There are plenty of Conventional lenders who do not have a seasoning issue...
And the issue is more of the buyer qualification than an ownership time limit...
What I mean is the better the buyer the easier it seems to be...
[addsig]