Hot Fudge Sauce

Adapted from Food.com

1 c. semi-sweet chocolate chips
2 squares semi-sweet baking chocolate (I use Baker's), chopped
2 Tbsp. butter
1- 14 oz. can sweetened condensed milk
2 Tbsp. water
1 tsp. vanilla

Melt chocolate and butter with sweetened condensed milk and water over medium heat, stirring constantly until smooth. Remove from heat, add vanilla. Serve warm. Store leftovers in the fridge. Makes about 2 cups.