Act as a neutral third party
between Buyer and Seller or Debtor and Creditor.
Process
payment from the Buyer/Debtor quickly and accurately.
Provide
account flexibility such as balloon payments, interest rate and
payment changes, late charges and prepayment penalties.
Disburse
funds according to instructions received from the
Seller/Creditor.
Send a
comprehensive statement of the account to the Seller/Creditor each
time a payment is received.
Provide the
Buyer/Debtor with an annual, itemized statement of the
account.
Complete
all interest income and expense reporting required by the
IRS.
Furnish IRS
Form 1098 and 1099 INT to the Buyer and Seller for tax
purposes.
Setup
reserve account for payment of taxes and insurance.
Safekeeping
original documents.
What It Costs:
The set-up
cost is $50.00 for most contracts, including safekeeping of
original documents. Monthly service charges start at $12.50 for an
account with a monthly payment and one disbursement.
*Services to accommodate unique
terms of some agreements are available based on special
instructions. Additional fees are based on the services requested.
Call (503) 684-6556 today for more details.