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#2239709 - 07/16/20 07:15 PM TRID - Funds for Construction
Anonymous
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I am reviewing a loan in which part of the proceeds are being used to pay off an existing loan on the property and some of the funds are being used for construction on the property. The alternate closing disclosure was used. Where do the funds for construction go on the closing disclosure?

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#2239711 - 07/16/20 07:24 PM Re: TRID - Funds for Construction Anonymous
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,222
Galveston, TX
The value of the construction contract goes in the payoffs and payments table.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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