When do creditors get paid?
Got a cash-out refi to consolidate debt. A portion was deposited today. What's the timeframe for the other creditors to be paid? by timlinux669 from Clifford, North Dakota. Apr 27th 2021
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
Lenders prefer to give you the money at closing, and you pay off your own creditors. Some people the lender will REQUIRE through the closing that the creditors get paid. It is the responsibility of the title company to send out those payments. They almost always do it the same day as the closing, or maybe the next day. I lend in MN WI IA ND SD. Find me at JoeMetzler.com - Cambria Mortgage, NMLS 275142
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