Disbursement

The release of funds. With a purchase mortgage, the closing agent disburses the loan proceeds at the conclusion of the closing. However, if a borrower is refinancing a primary residential property, the disbursement must be delayed three business days. This three-day delay is called the "Rescission Period," and allows the borrower to reconsider and possibly cancel the refinance loan. For more information, see the "Closings and Transactions" article in the "Real Estate In-Depth" section.

Real Estate 101

Real Estate 101

This book makes it easy to not only buy a home, but figure out everything that you need to do, even get a loan. In simple and easy to understand language, it talks about where you should buy a home, what to look for in a home, how to find a home, how to get an agent, how to get a mortgage and more. This is a step by step process that you, a new home buyer, can use to purchase a home.

Get My Free Ebook


Post a comment