Pre-paids and Reserves? What are these and what is the difference?
If you’ve ever purchased or refinanced a home then it would be safe to assume that you may have been surprised….ok, SHOCKED, at the total amount of ‘closing costs’. I bookended the term ‘closing costs’ with quotes because this term is both misused (by mortgage companies) and misinterpreted (by would-be homebuyers and refinancers as well […]Read More Pre-paids and Reserves? What are these and what is the difference?