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#1459892 - 10/27/10 12:57 PM ROR Question
Brooks1435 Offline
Junior Member
Joined: Jul 2009
Posts: 42
If you are refinancing a loan with no new money going out but paying the 2010 property taxes and a portion of homeowners insurance to finish the yearly premium, does ROR apply? I know the initial escrow deposit does not count as new money but I was not sure on these disbursements.

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Lending Compliance
#1459911 - 10/27/10 01:21 PM Re: ROR Question Brooks1435
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
No, that would be part of the settlement costs, IMO.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1459917 - 10/27/10 01:29 PM Re: ROR Question RR Joker
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
I agree.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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