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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Did anyone here ask to see a copy of their HUD-1 a day before you closed?
For those that don't know... the HUD-1 is like your "sales receipt" for your closing. It lists the entire transaction... all the fees... money put down... money that changed hands... etc. Its a very important document because it lists all the fees that you originally got in your good faith estimate.
Well... did anyone here know that you are entitled BY LAW to see a copy of this document 24 hours before you close?
This is very important because seeing this a day before gives you a chance (on your time( to look it over carefully and compare all the fees in there to fees in your good faith estimate (without the pressure of having to review this at the closing table).
Occasionally... lenders will try to pull a "fast one" on buyers by adding BS fees, or charging more for things that weren't in your GFE. Asking to see this document a day before may discourage your lender or broker from pulling anything shady.
Well I told my attorney today that I want to see the HUD a day before... she was like W/T/F. LOL She is like "we never got this request before... we have to check with the bank's attorney to see if thats allowed".
Well no shyt its allowed... its the freakin' law. I am sure they will be somewhat impressed when they realize that I know about this. 
And you should too! (anyone thats closing in the future).
I'll see if they actually do it. I am putting the request in writing this week (I heard it has to be in writing for it to be binding).
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Posted 11/2/05 8:11 PM  |
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PiyoPika566
talk to the hand
Member since 5/05 1436 total posts
Name:
Stephanie
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Re: Did anyone here ask to see a copy of their HUD-1 a day before you closed?
that's good to know, thanks for the info!
when is your closing date?
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| Posted 11/2/05 8:14 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Did anyone here ask to see a copy of their HUD-1 a day before you closed?
Posted by PiyoPika566
that's good to know, thanks for the info!
when is your closing date?
They are trying to schedule it now. Hopefully sometime next week. My rate lock of 5.375% for 30yr fixed expires on the 21st. I would rather not pay to have this extended if I don't have to. You would be hard pressed to get a mortgage now for anything below 6.25%.
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| Posted 11/2/05 8:16 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19460 total posts
Name:
L
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Re: Did anyone here ask to see a copy of their HUD-1 a day before you closed?
We closed last week and our mortgage lender honored our rate lock of 5.125%. They have to honour their commitment to you if you closed by the rate lock in date.
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| Posted 11/2/05 8:22 PM |
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KPsquared
Member since 5/05 4663 total posts
Name:
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Re: Did anyone here ask to see a copy of their HUD-1 a day before you closed?
That is great info. Thanks DJP. We saw the HUD doc the day of closing. Much better to see it the day before to verify all is correct.
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| Posted 11/3/05 8:05 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Did anyone here ask to see a copy of their HUD-1 a day before you closed?
Well after bytching and moaning to the bank's attorney's office... I finally got a copy of the HUD-1.
Everything seems fine as far as fees go. But of course I find one error on there.
They have the contract price of my house incorrect! It won't change the figures I will owe in the end... but come on. At least get the figures right.
Here i am the one without the law degree... and I am giving corrections to the guy that is supposed to have years under his belt doing this stuff.
Go figure. This is why I ask for this stuff in advance. The bank lawyer is probably hating me bigtime right now. 
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| Posted 11/16/05 4:38 PM |
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KPsquared
Member since 5/05 4663 total posts
Name:
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Re: Did anyone here ask to see a copy of their HUD-1 a day before you closed?
They must love you Pill  But it really is great that you are looking it over before hand. When do you close? Tomorrow?
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| Posted 11/16/05 8:11 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Did anyone here ask to see a copy of their HUD-1 a day before you closed?
Posted by KimPetro
They must love you Pill But it really is great that you are looking it over before hand. When do you close? Tomorrow?
Yup... tomorrow.
Well... even though I don't know the exact calculation for the county tax stamps... i pretty much have all my numbers right.
But of course I found two total BS fees that got added.
Bank of America decided to add a $450 "Administrative Fee". Total crap IMO.
And they are charging me $750 for the bank's attorney instead of $500 I was originally quoted. More BS.
Oh well... what can you do I suppose.
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| Posted 11/16/05 8:19 PM |
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KPsquared
Member since 5/05 4663 total posts
Name:
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Re: Did anyone here ask to see a copy of their HUD-1 a day before you closed?
I know those fees are total BS along with the tipping. I responded on the other post. Well congrats and hope the closing goes smoothly.
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| Posted 11/16/05 8:23 PM |
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