Answer:
Answer by John Burnett:
For costs in the 10% category, you determine the total disclosed on the LE and increase that amount by 10%. That's your limit for 10% costs. Subtract that limit from the total of the actual 10% costs (from the CloD) to determine the "cure" needed for those costs. You don't look at each item individually.
If you had no 10% costs on the LE (unlikely), you'd have to cover all of the actual 10% costs.
Answer:
Answer by Dan Persfull:
If they were not disclosed then 10% of 0 is 0 so yes you would be looking at 100% cure.
Answer:
Answer by John Burnett:
Recording fees are one of the 10% costs you probably did not omit, right? What other 10% costs do you have on the LE?
print
share