Escrow Money Saga - A Happy Ending
August 2nd, 2007 categories: Home Buyers
A few weeks ago, I told you about a nightmare situation with clients who closed on a property and were having great difficulties getting money they had put into escrow released to them. It all had to do with a mistake made by a septic inspector and getting that issue resolved before the bank would release the clients’ money from escrow. Read about it at Escrow Money Saga.
The good news is that my clients had their money returned to them! Right after I posted that story, I sent the mortgage broker a very detailed timeline arguing the case for my client. Although I had spelled out the details several times to the broker, it took this e-mail summarizing the situation to make the lender and their underwriter to see the light. The next day, the lender sent the buyer’s attorney a letter releasing the money.
I truly thought I was going to be stuck in a bureaucratic quagmire for the next year.
