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Will I receive more documents to take home with me from the closing?
After the closing has taken place, you will be given copies of various documents. Some of these documents will be the HUD-1 Settlement Statement, which the buyer and seller will be asked to sign, the Truth In Lending Statement, the Promissory Note to the lender, binding you to pay a certain amount according to the terms of the loan, including the dates on which your loan payments are due and the location where they must be sent, a copy of the mortgage or deed of trust, which is the document which secures the note and gives the lender the legal right to make a claim against the property in case you were to default on the terms of the note.
Copyright © 2009 Sandy Gadow. This article may not be resold, reprinted, resyndicated or redistributed without the written permission from Escrow Publishing Company.
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