Mortgage Loans: HUD’s Closing Cost Booklet
By05/11/2010
It is common knowledge in the real estate industry that the new required HUD Good Faith Estimate of Costs in conjunction with the final HUD Settlement Statement that is required in most real estate purchases is very confusing. I have been handling my own closings since 1992 and repetition creates a standard presentation. The new procedures have caused me to stumble through the explanation of these documents a few times.
Surprisingly, HUD’s booklet “Shopping for you Home Loan” is actually a pretty good explanation of the forms. Here is a link for you to copy to your desktop that will take you directly to a pdf file of the document. I encourage all realtors to send this link to every client when they contact you about buying or selling a home. It will help them understand the documents to come. http://bit.ly/HUDcosts
