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What do mean by wet settlement?

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varthomas Joined: 31 Jan 2008 Posts: 1 1.27 Dollars($)	Posted: Thu Jan 31, 2008 1:22 am    Post subject: What do mean by wet settlement? wet setlement where it is applicable?
adonis Joined: 22 Oct 2005 Posts: 1482 Location: ALASKA 142.76 Dollars($)	Posted: Thu Jan 31, 2008 2:42 am    Post subject: Welcome Varthomas. Wet settlement is applicable in case of mortgage lending. Just have a look at http://www.mortgagefit.com/predeal/wet-settlementact.html for the details. _________________ Procrastination is the enemy of your financial sucess
larry Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)	Posted: Thu Jan 31, 2008 7:20 pm    Post subject: Hi varthomas, Welcome to the forum. On the day of closing of mortgage transaction, the lender should provide the fund to his client. This is known as wet settlement. Feel free to ask if you have any further questions. Best of luck. Larry
lisascherzer Joined: 04 Jan 2008 Posts: 755 1.03 Dollars($)	Posted: Sat Feb 02, 2008 2:26 pm    Post subject: Larry is correct. It just means that the seller gets their check the same day that the buyer signs the mortgage papers. _________________ Lisa Scherzer Allpointe Mortgage Expert Mortgage Broker 440-521-7060 Free Mortgage Quotes Get Mortgage Information Search Real Estate Agents Here

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