What are the risks of paying-off escrow 12 days before closing?

[Electrician4you]

Originally Posted by MikeJaquish

"I'd keep the money in MY name at MY bank."

Exactly.

I wouldn't pay anything sooner than you have to.

[jackmichigan]

Originally Posted by MerriMAC

My secret fear is that they will be frozen by bank error or identity theft when the time comes for me to pay off the rest.

C'mon. Really??

Keep your money until everything is settled and ready to close.

[transplant2wv]

Originally Posted by Jkgourmet

Maybe it's just my general opinion of lawyers, but that's the LAST place I would put it.

Originally Posted by Ted Bear

Chances of something going wrong with your personal account, of which you know a great deal, versus chances of something going wrong with a corporate/attorney/trust account of which you know nothing?

We know our attorney and his firm quite well--they have handled all of our legal matters for years and this procedure minimized our risk: if something went wrong vis-a-vis the bank we were buying our REO from our money would not be at risk.