The lender is allowed to accumulate a borrower's payments up to a two-month advance cushion at the end of a year. But if a surplus develops beyond this amount, the borrower is now entitled to an immediate refund unless the surplus is less than $50. These rules apply to new loans.
For professional advice on all aspects of buying and selling real estate in the New Bern area, please Email us, or call 866-369-6595
We WILL
go the extra mile for you !
Donna Harmatuk and Dianne Dunn,
Broker, CRS, GRI, e-PRO
Email us:
(866) 369-6595 Toll Free
New Bern, North Carolina
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