HUD earnest money question?
Hi, we recently received our sales contract back, and are ready to go. We had to put $ 1,000 in earnest money in the escrow of our real estate agent. During the walk through, she told us that she cuts a check back to us at closing, so we were planning on using this money for some repairs and furniture. This is a HUD home, and HUD is paying for $ 2500 in closing costs. Well, I got an email from her today, and she said that the title company will credit us back the earnest money at closing. What does that mean “credit back”. Will it go towards the mortgage, or will they give us a check? I heard that it would normally go towards closing costs. Uuuugh, this HUD stuff is getting harder and harder every day to deal with….