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PMFMike
222 Posts |
 Posted - 05/29/2008 : 08:53:05 AM
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Guys,
Need your help on a scenario I should know, but I don't.
I'm doing a loan for a couple, and they are getting a 15 year fixed FHA. Since its 15 year, and its low LTV, i know there is no MI. My question, do they have to escrow or not?
Thanks,
Mike |
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MortgageBoarder
4016 Posts |
Posted - 05/29/2008 : 08:54:37 AM
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| Yessir, always and forever. |
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CindyJo440
122 Posts |
Posted - 05/29/2008 : 1:00:42 PM
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| Yes, that is a requirement of both FHA and VA loans. |
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cpruitt
1686 Posts |
Posted - 05/29/2008 : 11:29:44 PM
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Yes, never any way out of it on a government insured loan.
Pretty soon, I bet escrows will be required on all loans.
The legislative mood seems to be leaning toward that.
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