NEW RULES!!! NEW HUD1!!!
The HUD-1 settlement statement is a standard government real estate form that was designed to give each party a complete list of their incoming and outgoing funds.
Effective October 3, 2015, new rules established by the Consumer Financial Protection Bureau made the HUD-1 Settlement Statement become obsolete, and has since been replaced by a document called the Closing Disclosure that consolidates the HUD1, Good Faith Estimate, and Truth in Lending Act disclosures.
But what does this mean? And specifically for a real estate investor? Well, a LOT.
KRISTIN BLAY, SENIOR ESCROW OFFICER with ALAMO TITLE COMPANY, will be here on THURSDAY, 10/5 to run through one of the key changes of this document. You’ll learn:
- What notice is required
- What changes have affected the format
- What the new rules are and what it means to you
Come see what is different!
Be sure to bring your business cards for great networking and