Tuesday, May 12, 2009

New HUD rules for Closing Costs

The new rules are designed to help homebuyers be
more aware of what their money is paying for, therefore
protecting consumers from unfair loan origination fees
and closing costs. From the point of loan origination to
the closing, the new rules limit the total amount that fees
can increase to 10%. Updated forms, including Good
Faith Estimate samples can be viewed at HUD's
website.

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