01/19/2022
HUD in escrow process.
Whatβs on a HUD??
An accounting of ALL terms. Including closing cost, purchase price, assignment fees, home insurance, post possession, reinstatement, private money lender terms, title insurance etc.
Blind HUD whatβs this?
A way to disclose to the seller or buyer their terms ONLY. Popular in assignments where there is a large assignment fee involved.
Double checking your HUD statements is the best way to close a transaction out right. To make sure all terms are correct and money is dispersed as dictated in the legal binding contracts. Learning how to read these is important to a successful closing!