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New HUD-1 Overview |
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An 11-minute video has been created to answer questions regarding the Good Faith Estimate and HUD-1 settlement form. The revamped forms took effect Jan. 1. The forms are intended to make comparison shopping easier for settlement services and mortgage financing. Initial industry reactions are that the forms are not that straight-forward to fill out. Although mortgage originators typically fill out the GFE and settlement agents typically fill out the HUD-1, sales associates are the ones that get all the questions from consumers.
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| Disclaimer: Not every house is a candidate for a short sale and not every short sale will be approved by the bank or acceted by the buyer. |
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