Sentences with phrase «explained at loan closing»
The process of canceling the loan should be explained at loan closing.
https://blog.annuity123.com/ Not exact matches
TechFinancials further explains: «The Buyer will pay to the Company any surplus net working capital in BOT as at the closing date along with the loan amount owed by BOT to the Company which, as of the date of this announcement, was approximately US$ 200,000.
After the lender's real estate attorney, also known as the closing attorney, explains at closing to the homebuyer that by signing the «note» he or she is promising to pay the loan amount back, homebuyers are sometimes surprised when the attorney then presents the mortgage document to be signed.
The commenter explained that this would allow transactions that have been estimated more accurately at the Loan Estimate stage to close without advance delivery of the Closing Disclosure.
As noted in the section - by - section analysis of § 1026.19 (f)(1)(i), settlement agent commenters in support of a general three - business - day requirement explained that such a requirement would benefit consumers who are surprised at the closing table when they discover major changes to their loan product.
Your lender will explain the option and process at your loan closing, including who to contact and how to best reach them.