real estate procedures act: Real Estate Settlement Procedures Act
- 04/08/13 06:45 AM
In 1974, the Real Estate Settlement Procedures Act (RESPA) was passed to protect consumers from unnecessary cost increases for settlement services, as well as to promote the shopping experience when using these services. The act covers loans that have been secured with a mortgage for one to four family residential properties, which is enforced by the Interstate Land Sales and HUD’s Office of RESPA. Most often, this includes loans, refinances, assumptions, property investment loans, and equality lines of credit. The act requires borrows to receive disclosures at various times, such as the costs associated with the settlement. It may also include … (2 comments)
In 1974, the Real Estate Settlement Procedures Act (RESPA) was passed to protect consumers from unnecessary cost increases for settlement services, as well as to promote the shopping experience when using these services. The act covers loans that have been secured with a mortgage for one to four family residential properties, which is enforced by the Interstate Land Sales and HUD’s Office of RESPA. Most often, this includes loans, refinances, assumptions, property investment loans, and equality lines of credit. 
;)
;)
