Loan Modification on my Irvine home.

Loan Modification on my Irvine home.

Question: When utilizing a Loan Modification option, can a mortgagee capitalize an escrow advance for Homeowner’s Association fees?

Answer: HUD Handbook 4330.1 REV-5, Paragraph 2-1, Section B, Escrow Obligations states: Mortgagees must also escrow funds for those items which, if not paid, would create liens on the property positioned ahead of the FHA-insured mortgage.

If you have more questions on this topic you might want to take a look at www.ochomehelp.com

OCHomehelp.com is a team of Orange County Short Sale and Foreclosure Specialist’s. They are comprised of a team of real estate agents, loan modification experts, short sale specialists, attorneys, and title officers.

This might be a good place for you to start if you are confused or scared. They offer a free and 100% confident consultations.

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