We collect an initial deposit and a monthly payment. We pay the taxes throughout the construction phase.

Thanks!

Sheryl Montgomery
Assistant Vice President
Loan Servicing Manager
220 Liberty St.
Warsaw, NY  14569
O (585) 786-1156
F (585) 786-1495

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________________________________
From: "Denise L. Burgan" <xxxxxx@orrstown.com>
Sent: Monday, June 24, 2019 8:39 PM
To: "'xxxxxx@simplelists.com'" <xxxxxx@simplelists.com>
Subject: SilverLake MA-RUG Escrow on Construction loans

CAUTION! - The content below originated from outside the Five Star Bank network.

________________________________
Good afternoon,
Is anyone collecting an initial escrow deposit on Construction loans?  If so, are you billing escrow during the construction phase or just holding the initial escrow deposit?

Any feedback would be appreciated.

Thank you!

[cid:image001.jpg@01D4BD68.75989790]
DENISE L BURGAN  |  Vice President, Loan Operations Manager
2695 Philadelphia Ave, Chambersburg, PA 17201
717-709-3051 |  M: 240-818-1487  |  xxxxxx@orrstown.com  |  Orrstown.com<http://www.orrstown.com/>

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