disclosures: Shoppng for settlement services, does that really happen?
- 07/12/11 01:57 AM
Since the beginning of 2010 rwe have all been using the "new" HUD-1 settlement statement. The purpose of this revised HUD was supposed to enable consumers to make informed decisions relating to the cost of thier real estate transaction. The THEORY was sound, the end result though is that nothing has changed. EXCEPT that in some cases the consumer is actually paying MORE for settlement services than they may have been post 2010. Prior to the revised HUD an agent or lender would call our office, request a preliminary HUD and presumably would then share the ITEMIZED costs with the consumer. … (0 comments)
Since the beginning of 2010 rwe have all been using the "new" HUD-1 settlement statement. The purpose of this revised HUD was supposed to enable consumers to make informed decisions relating to the cost of thier real estate transaction. The THEORY was sound, the end result though is that nothing has changed. EXCEPT that in some cases the consumer is actually paying MORE for settlement services than they may have been post 2010. Prior to the revised HUD an agent or lender would call our office, request a preliminary HUD and presumably would then share the ITEMIZED costs with the consumer. … (0 comments)
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