clearush

Tell that to the title company at my last closing. If your not bringing cash to the table to close with you cannot recieve money back out of your loan, unless you are specificaly going with a 105% LTV loan and even then the money is usualy escrowed. Now if your bringing more cash to closing than you will be getting back (as in its not coming out of the home loan) then it shouldn't be a problem, but even then Title Co can be a pain in the a--- about it so it's just easier to get it after closing if you can. As far as I remember the not recieving funds a closing from home loans was to prevent mortgage fraud by over selling properties in fake arms length transactions. But its been a while since I studied my mortgage law.

Well the Ideal that they are going to improve the north/south runway lends to the possibility that future noise levels would become unbearable. My Mother in-laws TMJ hurts with loud noises so I cabn't move her into an area that may become a flight path. The sad thing is the style of homes that she is most interested in are near Hobby.

Thank you that information helps considerably.

Sorry to hijack a bit here. I am current looking at homes in Glenbrook Valley and I was curious at to the noise level from Hobby Airport. How many fly overs do you think occur daily and do the planes ever take off directly over Glenbrook Valley. I ask since my mother-inlaw has TMJ and the loud noise causes her pain , which is why she is unable to buy in Garden Villas.

jscarbor is correct, Your Relative is refering to the fact that you can't recieve funds at closing acording to state law, but your agent can give you what ever money afterwards. It sounds like your relative is just along for the ride. You would have been better served by using an agent that would have worked for thier money and tried harder to get the best deal they could for you. Also even if the seller's actual agent had shown up to show you the property they would have desired the full 6% since you were using thier time. This is the purpose of having a buyers agent, and why the buyers agent recieves 3% compensation for showing the property or properties to you, then doing research into the subdivisions sales history to find out what a resonable offer is an what you can expect in price trends so you don't go into a house upside down on your mortgage, and then to do all your paper work and back and forth stuff between selling agent, loan officer and title company. It sound like your bad experiance with agents came from trying to split the work load instead of finding an agent that would work for you and in your best interest.