The lender uses the bank account to make

March 9th, 2010 07:03am

The lender uses the bank account to make sure for the payments certain bills are paid, debts that might otherwise cause the lender problems if they are not paid. As a result it demands for a bank account to be established, which is under its control. A lender does not really trust you even if he is giving you a home funding for hundreds of thousands of dollars. The cushion is required to make sure there is money in the account to clear [...] A lender account is good from the perspective of the lender.
Maryland Real Estate

Information is deemed reliable but not guaranteed.

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