Posted by claudine osborne on 6/26/07 10:38am
Msg #196982

OT list of docs

www.cleveland/busines/extra yesterday had al ist of docs that are critical and a 65 pdf of a complete set of docs. It is a good source for newbies!

Reply by BrendaTx on 6/26/07 11:05am
Msg #196986

Re: OT list of docs - good info Claudine

I find it interesting that a journalist can give a breakdown of what's in the loan package...but God forbid a closer attempt that. LOL...nice of you to share, Claudine.

Reply by PAW on 6/26/07 11:08am
Msg #196988

Not very accurate

I didn't read the entire article because when I got to the "most" critical document, the description was, imo, inaccurate and somewhat misleading. The article stated that the TIL is most critical document (listed first) and had the following as the description of the document:

"Truth-in-Lending statement: One page, distinguished by the four big boxes at the top. Contains information such as your interest rate and whether it's fixed or variable, the amount borrowed, the amount of your monthly payment, any prepayment penalties, etc."

The other three documents listed as "Most Important" were the HUD-1, Note and Mortgage. As I said, I didn't read any further than the TIL description.

Reply by BrendaTx on 6/26/07 1:02pm
Msg #197002

Re: Not very accurate

I like it. It doesn't flood the reader with TMI. If they want more info, now they have a place to start.

Reply by Todd/OH on 6/26/07 3:24pm
Msg #197025

You mean to tell me that a PD (Cleveland Plain Dealer, I'm a native) journalist is pretending to be a suedo mortgage banker? They twist their stories enough as it is and they are trying to "act" knowledgeable about mortgage banking issues. The last source I would rely on is the Cleveland PD on this topic.

Please research this forum and others on this topic. We are professionals in this industry and we know how to make it work. We know what should be in a loan package and what looks crazy.

Leave it to a journalist to twist an issue.

Reply by BrendaTx on 6/26/07 6:37pm
Msg #197059

Re: OT list of docs - Claudine: No good deed goes un-

punished, girlfriend.

Reply by claudine osborne on 6/26/07 9:42pm
Msg #197088

Re: OT list of docs - Claudine: No good deed goes un-

I hear you Brenda..try to help and bam again! Oh well!

Reply by Michael DePaolis on 6/26/07 7:47pm
Msg #197065

Do you have a better website address for www.cleveland/business/extra. I can't see to find this website link. No good. Thanks

Reply by claudine osborne on 6/26/07 9:45pm
Msg #197089

Michael, this is the only address I have and it was fine for me. Sorry

Reply by Gerri Edler on 6/27/07 7:09pm
Msg #197287

http://www.cleveland.com/business/extra/index.ssf?/business/more/homebuyer_explanations.html