Hot off the Press: The new HUD and Good Faith Estimate
Come January 2010, the federal government has mandated a few new forms to be used on real estate and mortgage transactions. There is a new HUD1 Settlement Statement and a new Good Faith Estimate. The HUD1 is a document that is signed at closing to document the final cost associated with the transaction. The Good Faith Estimate is a form that your lender provides you at application to disclose a best efforts attempt of the total end cost.
Check out the new forms and give us your feedback. We both agree it looks like someone from the IRS designed both of these “tax looking forms”!
(Both are available in .pdf format to view or download)
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