escrow frustration - Posted by rayrick

Posted by Scott (AK) on June 15, 1999 at 11:14:51:


A couple suggestions, you may want to check at the loacal banks. Some places that do mortgage lending will also offer Escrow services. I use one here, they do not do it on a National basis but my setup fee was only $70 and ditributions are $1 a month. They will also do an automatic withdrawal from my T/B account. They send the coupon book to the T/B and perform any actions needed in case of late pays. They send me receipts each month and statements, also for $15 a month if I want when I get a bunch of them stacked up they will send me on Investor printout of all my accounts so I can see the overall picture.

The second word of advice. When I used to live down in Washington I used a place that said they do National Accounts. They were quite reasonable too. The name of the Company is Fidelity Contract Services, Inc. ; 1-800-955-4449, they can fax you some info on their fees and services. I found them to be reasonable and I have had no problems with them yet.

escrow frustration - Posted by rayrick

Posted by rayrick on June 15, 1999 at 10:57:59:

I’m having a terrible time finding anyone locally to hold closing documents in escrow. I’m trying to follow Bill Bronchick’s advice and get a deed, bill of sale and quit claim deed held in escrow for a house I’m L/O’ing. I had someone say they would do it months ago, and now that I’ve actually got a place under contract, they just told me they won’t. Doh! I can’t seem to find anyone locally who will do it for less than $500, which seems rather steep to me. Anybody else out there have this experience? Any suggestions for non-local companies that might do it? I actually made this request some months ago, but as I said, I thought that I had it all taken care of. WRONG!