homebuyadvantage

Derrick is correct.

Thanks.That really helped.My last question is, at the inception of the trust, the R/B contributed $11,500, of which around $5,000 was left over after trust and impound.Is this $5,000 required to be left in some impound or security account in case of default?

Scott,So at the end of 5 years, assume the property is appraised at $200,000.I am trying to understand how the money is settled.First, does the R/B purchases the home from the trust for $160,000 or $200,000?