Is Texas an Escrow State?

smaddox02 · Joined: 30 Nov 2007 Posts: 1 1.27 Dollars($)

livinginnky · Posted: Sat Dec 01, 2007 1:02 pm Post subject:

I see from doing a Google search that many companies offer escrow services in Texas so I suppose it is an escrow state.

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.80 Dollars($)

Hello Smaddox,

As far as I know, Texas is an escrow state.

ckalvesmaki · Posted: Tue Dec 04, 2007 6:14 am Post subject:

If you are talking about dry vs wet funding(or table funding) TX is a wet funding state......so on a purchase your loan would close and fund on the same day.......on a refi of a primary residence you have a three day right of recission......an investment home or second home would fund the same day as closing on a refi.........however if you do a cash out refi you have a 12 day notice that has to be executed 12 days prior to close and then you still have a 3 day right of recission.....Having said that.......if you are talking about escrowing taxes and insurance that is goverened by the lender and or the loan program you are getting.

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