Real Estate And Closing Liabilities

There are certain things that you need to get before your closing. Make sure you have received a Good Faith Estimate of Closing Costs and a HUD-1 Statement. The mortgage bank also is under and obligation to give you a complete explanation of fees.

Don't even know what a HUD-1 statement is? Read on.

The HUD-1 Form provides you an accounting of the purchase transactions. The Federal Government requires that your lender provide you with this form. The HUD-1 Settlement Statement provides a complete financial picture of the closing. It should show all funds that go into or out of the settlement.

You're entitled to this information. Insist on it.