Hud 1 Settlement Statement explanation Form 2023

Hud 1 Settlement Statement explanation Form: What You Should Know

Under the HUD-1 settlement statement, a loan is reported in one of three categories: 1. Defaulted Loans. The number of delinquent loans on the property that are still delinquent for more than 360 days (30 months). 2. Not Paid, But Not Yet Deferring — No delinquencies reported. 3. Paid, But Not Yet Denied — No delinquencies reported. If you have no delinquent loans on the property, it is shown in item #5 of the settlement statement. If you have a delinquent loan, it is reported as an amount outstanding for more than 90 days and less than 100 days. Under the HUD-1 settlement statement, if the payment was for the entire remaining length of the loan, they are shown. If the payment was 50%, you'll see two amounts with a “Pay the remaining amount” label. See the HUD-1 Balance for a more complete explanation of balances by payment group. HUD/TILL Fact Sheet on the HUD-1 Settlement Statement Aug 24, 2023 | U.S. Department of Housing & The HUD/TILL Fact Sheet has additional information and FAQ's on the HUD-1 settlement statement. HUD-GFE, Good Faith Estimate Form The HUD-GFE was used to negotiate loans for the most vulnerable members of our community.

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