info@rmedgo.com 970-385-4423

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  • 970 Main Avenue, Durango, Colorado 81301
  • 970-385-4423
  • info@rmedgo.com

What We Provide

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Services Provided by Rocky Mountain Escrow

Handling owner-financed loans can get complicated—that's where we come in. As your neutral third-party servicing agent, we manage all the crucial, detail-oriented aspects of your loan—from collecting and tracking payments to handling year-end tax forms and official lien releases. Here are just a few of the benefits of choosing Rocky Mountain Escrow to service your seller carry (owner-carry) loan.

Services Provided by Rocky Mountain Escrow

Accurate Payment History

We maintain detailed, impartial records of every payment. This prevents confusion and protects both parties in the event of a dispute as to the loan balance or when a payment was made.

Online Account Access

Borrowers and lenders can log in to view payment history, outstanding balances, upcoming due dates, and download important documents anytime.

Automatic Withdrawal

We can set up an automatic withdrawal (ACH) from your bank account, eliminating the need for you to mail a check to us for each payment. Plus, we charge less if you use this service. We can do the same for the lender/seller's disbursement.

Quick Payoff Processing

Need a payoff statement? We can typically provide it within 24 hours upon request. The lender can be out of town without delaying the closing for the borrower.

Lien Release Handled Properly

When a loan is paid in full, we handle recording the Release of Deed of Trust with the county, ensuring the lien is properly released against the property. This is critical for avoiding issues when selling or refinancing a property, which is something many private lenders overlook.

Escrow for Taxes & Insurance

Upon request (for an additional fee), we can escrow and disburse property tax and insurance payments. This gives both seller and borrower peace of mind that bills are paid on time.

File 1098 With the IRS

We file 1098 forms with the IRS to assist buyers who claim mortgage interest deductions for their tax returns.

Payments Made to Underlying Wrapped Loans

Stay covered. If specified in the Escrow Instructions, we can handle payments to underlying wrapped loans.

Document Safekeeping

We securely store original documents. In Colorado, the Public Trustee cannot release a Deed of Trust without the original Promissory Note. If that note is lost, the noteholder may need to post a costly bond. By entrusting us, you avoid the risk of losing those documents.

Benefits for Buyers

Loan Documents Securely Held

You can have peace of mind knowing that your promissory note and other key documents are stored in a secure and neutral location.

Automatic Withdrawal & Payment Coupons Available

Choose convenient automatic payments from your bank account or receive payment coupons for manual submission—your choice.

Online Account Information

Easily view your account balance and payment history through our secure online portal.

Payoff Statements Available Upon Request

Need to pay off your loan early or refinance? We provide accurate payoff statements with all the details you need.

Year-End Tax Statements

Receive clear, annual statements with your payment history outlining interest paid for your personal tax preparation. We also file a 1098 annually for the interest paid to document your interest deduction.

Optional Tax & Insurance Reserve Accounts

Let us manage your property tax and insurance payments by setting up a reserve account to ensure they’re always paid on time. You still need to provide us with the tax statement and the home insurance invoice each year.

Benefits for Sellers

Loan Documents Securely Held

We store your signed loan documents in a secure, centralized system, ensuring they are protected and accessible when needed.

Automatic Direct Deposit

Receive loan payments directly into your bank account, generally the next business day, for faster access and reduced hassle.

Online Account Information

Stay informed with 24/7 access to view borrower payments and outstanding balances via our secure online system.

Year-End Tax Statements

Annual statements with the payment history and interest income summaries help simplify your tax reporting and keep your records accurate.

Optional Tax & Insurance Reserve Accounts

We handle the collection and payment of property taxes and insurance, protecting your interest in the property.

Option to Have Payments Split (for an Additional Fee)

Need payments divided between multiple sellers or accounts? We can split payments according to your instructions.

Option to Wrap an Underlying Loan

When a seller is offering financing and does not have enough money from the sale to pay off an underlying loan, they can sometimes wrap the underlying loan and use the payments from their seller financing to make the payments on the underlying loan. This would have to be agreed to by the buyer. An escrow company must handle the loan to ensure that the payments to the underlying loan are made.

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