Easily Hide Circle in the Settlement Statement

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How to Hide Circle in the Settlement Statement

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when it comes to wholesaling and flipping when you do a deal on the day of closing the title company that is handling the closing transaction is going to provide buyer and seller a closing statement and it breaks down all of the numbers now understanding that closing statement is really important so on todays video using actual closing statements get ready to learn how to read a closing statement coming up [Music] this video is brought to you by 10k club a program that pays you ten thousand dollars for finding ugly houses learn more at my10kcheck.com if youre new here to this channel im jerry norton with flippingmaster.com and this channel is all about ways to help you make money wholesaling and flipping real estate so you can live your dream life be sure to subscribe and turn on the bell notifications so you dont miss new videos when a real estate transaction happens and the property changes hands from the seller to the buyer this is referred to as a real estate closing and there

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What is a HUD uniform settlement statement?

The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance. If you applied for a mortgage on or before October 3, 2015, or if you are applying for a reverse mortgage, you receive a HUD-1.

Which of the following is not included on the closing disclosure?

It does not include the amount you have to bring to closingthats below in Cash to Close. Prior taxes and other fees owed by the seller that you will pay in the future. The seller is reimbursing you now to cover these expenses. Actual amount you will have to pay at closing.

What are the 5 things you need to prepare a closing disclosure?

Closing disclosure form sections Loan information. This section should match your loan estimate regarding the loan term, loan purpose and loan program (conventional, FHA, VA or USDA). Loan terms. Projected payments. Costs at closing. Late payment fee. Escrow account.

Which two items will appear on a closing statement?

Credits and debits appear on the closing statement.

What does POC mean on a closing statement?

Charges paid outside of settlement by the borrower, seller, loan originator, real estate agent, or any other person, must be included on the HUD-1 but marked P.O.C. for Paid Outside of Closing (settlement) and must not be included in computing totals.

Which two items will appear on a closing disclosure?

A Closing Disclosure is a five-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs).

What is a closing disclosure combination of?

The Closing Disclosure combines and replaces the HUD-1 Settlement Statement and the final Truth-in-Lending (TIL) statement. The form mirrors the information provided on the Loan Estimate.

What does a settlement statement include?

A settlement statement is a document summarizing all costs owed by or credits due to the homebuyer and seller (or borrower if refinancing). The document also includes the purchase price of the property, loan amount and other details.

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