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Debbie636
Dec 21, 2006, 12:59 PM
Is Missouri a Wet settlement state?

ScottGem
Dec 21, 2006, 01:08 PM
That's a new term for me. But I couldn't find any reference for Missouri. What you should do is ask your mortgage broker.

For anyone who doesn't know a Wet settlement requires a time limit on the distribution of funds from the sale of a house after closing.

Cvillecpm
Dec 22, 2006, 09:19 AM
There is federal law on refinances of existing homes to allow 3 days to recind the lien on the property.

It does not apply to original purchases... it is to prevent home improvement scams where a roofer or Tin Man as happened in the movie - ends up putting out the homeowner for home impovement work.