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Updated over 4 years ago,

User Stats

499
Posts
167
Votes
Jane S.
  • Flipper/Rehabber
  • Colorado Springs, CO
167
Votes |
499
Posts

rules for closing on an investment escrow etc.

Jane S.
  • Flipper/Rehabber
  • Colorado Springs, CO
Posted

i prefer not to escrow. mortgage broker says i have to pay 6 mos in advance in order to finance only P&I. with my high credit score & unimpeachable history as an investor this seems draconian. it will also cause higher interest rate? tired of escrow errors causing my loan to increase & damage cash flow. boo!

I just quit claimed my rentals into my LLC. hope they are not going to make me reverse this. why would banks insist on less safe entity?