Non-critical approved repairs may be completed after endorsement. A financial escrow equal to 120% of the cost of deferred repairs must be established at closing. The 20% cash portion (or letter of credit) of the escrow above the 100% of the deferred repair cost is non-mortgageable and may be reduced to 10% for affordable Section 223(f)applications.

Greg Hunter Changed status to publish July 6, 2021
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