Short Sale Escrows – REO Escrows – Refinancing Escrows
In today’s economic environment, traditional financing is no longer the only method likely to be used. Short sales, REO’s, refinances, and all other forms of special financing need reliable escrow services as well as experienced and trained escrow agents that are skilled in handling these special transactions. At New Era Escrow, we have a team of experienced escrow agents that can use their skills and expertise to meet all your special financing escrow needs. From preparing and executing all escrow instructions correctly and accurately, to keeping all parties up-to-date and informed, to maintaining accountability and security of both funds and confidential information, we provide a full service escrow transaction process that will exceed your expectations. Call us today to start your escrow or use our innovative online escrow service to begin. Put our experience, accountability, reliability, and backing to work on getting your transaction completed successfully.
Short sales add new complexities to transactions because they are not just between a buyer and a seller, but they also require the bank’s or mortgage holder’s approval to be processed. The involvement of this extra participant makes escrow more complicated and requires extra skills in ensuring the process is completed correctly. To make matters worse, the sale price is normally lower than the amount still owed, thus making the bank’s involvement a huge sticking point, and requiring the completion of several more documents and verifications. At New Era Escrow, we offer complete escrow services to meet all your short sale transaction needs. Our skilled escrow agents will keep lines of communication open with both you and the bank, verifying that the transaction is proceeding well and all requirements are being met.
Real Estate Owned (REO) properties (or bank owned properties) still make up a large portion of inventory, and these transactions are notoriously complex and frustrating. Without a skilled and experienced escrow agent handling your REO transaction, the process may end up taking much more time than planned due to the sluggish responses from most banks, as well as other intricacies involved. New Era Escrow handles a large volume of REO properties with the experience necessary to ensure a streamlined escrow process.
Even though ownership of a property may not change, refinancing your mortgage still requires changes to the deed, and thus will need to go through an escrow company that can resolve any issues that could delay closing. Although most mortgage lenders will recommend an escrow company, you have the right to request escrow services from a company of your choice. This ensures that your escrow is handled by an agency that is unaffiliated with the bank, and therefore does not have any alternate “agendas.” Our full service escrow company provides you with the support and attention to detail needed to close smoothly, accurately, and on schedule. We put your refinance escrow transaction in the hands of en experienced escrow officer who will keep you up to date with the process, and help your closing move along as planned.