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What Is the HUD-1 Settlement Statement and When Is It Used?

What Is the HUD-1 Settlement Statement and When Is It Used?

How to Read and Understand a HUD-1 Settlement Statement | Jim Allen Group | Raleigh Real Estate Blog

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NAR News: The New Truth-in-Lending Integrated Disclosure Act Replaces HUD-1 Settlement Statement - St. George Utah MLS Real Estate

The HUD-1 Settlement Statement is the most important closing document you will sign and by law details all closing costs for both the borrower and seller. Request a copy of your settlement statement before close of escrow (COE), and go over it line by line. Compare the Good Faith Estimate

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The HUD-1 settlement statement and Good Faith Estimate forms are going away on August 1. The Truth in Lending Act disclosure is going away as well. In their place will be a new closing disclosure and a new loan estimate. There will be changes to the closing process as well, including a new rule requiring everything to be in place three days prior to closing. And last-minute changes face new hurdles. Learn about the changes in this walk-through.

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Easier Truth in Lending and closing statements for home buyers coming in 2005::Currently, lenders must provide borrowers with 4 statements during the home buying process: an Early Truth in Lending Statement, a Final Truth in Lending Statement, a Good Faith Estimate and a HUD-1 Settlement Statement. Beginning August 1, 2015 that will all change and lenders will reduce these 4 statements to just 2.