query: must escrow accounts of title companies be interest bearing in PA

The answer is no. If you have funds that will be held after closing, you can request that it be placed in a separate interest bearing account. Keep in mind that this is extra work for the title agent and there may be a service charge. Any escrow set-up in PA does carry a mandatory $25 escrow set-up fee - even non-interest bearing escrow.

query: must escrow accounts of title companies be interest bearing in PA

The answer is no. If you have funds that will be held after closing, you can request that it be placed in a separate interest bearing account. Keep in mind that this is extra work for the title agent and there may be a service charge. Any escrow set-up in PA does carry a mandatory $25 escrow set-up fee - even non-interest bearing escrow.

yes, I hear your query, title insurance companies collapse.

While I can admit that a year ago I might have taken some cruel delight in the collapse of you know who, I can't say that anymore.Why does power corrupt? Why do those who get drunk on it feel invincible and harm others? I don't know but I believe in the power of hope and the power of atonement. In that light I am hopeful that lessons learned change the horizon. There are lessons here for all

yes, I hear your query, title insurance companies collapse.

While I can admit that a year ago I might have taken some cruel delight in the collapse of you know who, I can't say that anymore.Why does power corrupt? Why do those who get drunk on it feel invincible and harm others? I don't know but I believe in the power of hope and the power of atonement. In that light I am hopeful that lessons learned change the horizon. There are lessons here for all

OK...gotcha...query: what if title company didn't close a line on your property

I'm presuming you mean an open end line of credit, right? When a title insurer is paying off an open end mortgage which is a line of credit, they should request that the mortgage lender freeze the line. With evidence of a frozen line, the payoff letter is reliable. If the mortgage lender refuses to freeze the line, even with a written request of the borrower, the payoff is kinda risky. We

OK...gotcha...query: what if title company didn't close a line on your property

I'm presuming you mean an open end line of credit, right? When a title insurer is paying off an open end mortgage which is a line of credit, they should request that the mortgage lender freeze the line. With evidence of a frozen line, the payoff letter is reliable. If the mortgage lender refuses to freeze the line, even with a written request of the borrower, the payoff is kinda risky. We

We have a consumer in process who is applying for a mortgage.....

.....for an investment property. It has come to our attention that he intends to demolish the structure. He lives next door and really just wants the land to expand his yard.This is a classic case of mortgage fraud though I'm not certain that the consumer fully appreciates that that is what he is doing.The issue arose when we attempted to get results of a mandatory municipal sewage test. The