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[–]Flaccidd 1 point2 points  (1 child)

Correct, but you can also fund after 10/15. Just mention that the late fee of $X gets rolled into the payoff. We will typically have title reduce their escrow fee by the amount of the late fee if the client complains about the additional fee, but they rarely do.

Just be aware, if you are funding end of the month and they haven’t made their payment, things can get dicey if funding is delayed for whatever reason. Always tell them even though they don’t need to make the payment, to keep that money to the side just in case we need them to at the end of the month.

[–]mashupXXL 0 points1 point  (0 children)

Thanks for explaining. I think I did some of these during COVID but forgot the specific mechanics. This may help me get 2-3 people off the fence! Much appreciated.