In San Diego I pay a $100 set up fee and $15 per month. Escrow company makes three payments per month:
1- to lender who has first mortgage
2- to seller who has second loan
3- To HOA for their fees.
Soraya
I’m about to do my first owner financing deal. How do I set up a an escrow account so that the buyer pays the escrow account and the escrow pays the mortgage company it’s share and me my share? Some of the posts say this can be done thru a title company, is this correct? How much does something like this cost?
Contact an Escrow company, a Title company, a real estate attorney or a C.P.A. and one of the four should know of a company that can handle this for you.
What state are you in?
If you can’t find anyone locally call Zenith Trustee Service in Vista California. 760-758-7622.
I am sure they can do it for you.
Contact person is Judy.
Tell her that my dad told you to call her.
My dad’s name is Gar May.