Home Closing Tips: Real Estate Minute with Ilyce Glink

Home Closing Tips: Real Estate Minute with Ilyce Glink


Whether you’re buying or selling, you must
keep a paper trail of the transaction, or you could get into big trouble. I’m Ilyce Glink with today’s Real Estate
Minute. To keep your mortgage lender honest during
your closing, keep a file handy that contains copies of all of the information you’ve
given your lender…and the documentation you’ve gotten in return, especially the
good faith estimate. At your closing, or the day before, a lender
could add all sorts of charges and fees above and beyond what was quoted in the good faith
estimate. You or your real estate attorney has to jump on these extra charges, and ask
why they’ve been added to the deal. That’s when you whip out your folder with
the initial good faith estimate and compare the two statements. The lender should never
be more than 25-dollars over that estimate. I’m Ilyce Glink, for more details and links
visit my website Think Glink.com, where we’re rebuilding America, one house at a time.

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