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Posted by Bob_Chicago on 2/12/06 5:56pm
The standard FreedieMac/FannieMae note has a paragraph at the end that defines the
mtg/dot as securing the note and is defined as the "security instrument"
The standard FreddoeMac/FannieMae Mortgage has a Paragraaph just before e the legal
description reference (Page 3 on the Illinois form) which defines that instrument as
the "security Instrument"
You are not suppoosed to go into a lot of detail to expliain the dox to the bwr so
as not to get into UPL, but if YOU are familiar w/ the dox, it will be a lot easier to answer
basic ? and save yourself a lot of time at siginings/
It is expecially important to become familiar w/ the HUD. You should not tell them why they are being "charged so much" but you can answer typical ? such as :
"My last statement says I owe $x, why is this more?
"what is 'aggregate adjustment'"?
"what is prepaid interest from 2-16-06 tp 3-01-06?" etc
You can save a lot of time at signings by being familiar w/ the dox
in lieu of spending a lot of time on the phone to reach the L/O hearing
"your call is very important to us" |
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