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.

Was this article helpful?

0 0
The Real Estate Profits

The Real Estate Profits

If You Are Someone Who Doesn't Want To Take A Share Of The Real Estate Pie, This Is Not For You. Do You Feel The Real Estate Market Is Where Your Heart Lies? Always Wanted To Be A Part Of It. But Were Super Confused And Didn't Know Where To Even Start? Looking For Someone To Hold Your Hand And Guide You? Fret Not.

Get My Free Ebook


Post a comment