HUD 1 Settlement Statement Explained
The Houston Association of Realtors is offering a repository of consumer knowledge videos to help you through the buying or selling process. Each week we will share a new video and give some other helpful information on these topics. This week’s installment is “The Closing Process – What is a HUD 1 Settlement Statement?”
Click here to view a HUD 1 Form (settlement statement)
RESPA – Real Estate Settlement Procedures Act, was intended to help consumers become better shoppers for settlement services and eliminate kickbacks and referral fees that make settlement services more expensive for the consumer. To learn more about RESPA and how it can affect your transaction, speak to your Realtor or visit The HUD Website
Watch this video to learn more about the HUD 1 Settlement Statement.
Next week learn about who the parties to a closing are and their roles.