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Foreclosures
HomeForumsForeclosuresREO Escrow Holdback loan disbursement?????????????
Chris Igard's profile image
Chris Igard's profile image
Chris Igard
  • from San Antonio, Texas
  • Member since Jul 15, 2017
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Chris Igard's profile image
Chris Igard's profile image
Chris Igard
  • from San Antonio, Texas
  • Member since Jul 15, 2017
Connect
Chris Igard
  • San Antonio, TX
6
Votes |
49
Posts
Foreclosures

REO Escrow Holdback loan disbursement?????????????

Chris Igard
  • San Antonio, TX
Posted Oct 16 2017, 18:41

We purchased a HUD foreclosure and picked up a 203(b) Escrow Hold back loan. We had the subcontractor ready to roll in and repair the items and our lender tells them that all work must be completed before funds can be dispersed. Has anyone ever heard of such a thing for a REO HUD foreclosure with a 203(b) escrow loan. If so what contractor out there is willing to work for free?

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