Posted on: 18th Dec, 2009 12:42 pm
How can I obtain an estimated HUD? We are attempting to get a short sale offer approved for our house before it goes into foreclosure and the bank has asked for an estimated HUD to proceed with seeing if the offer can be approved. Our agent has contacted the title company about an estimated HUD only to be told that we must first open escrow (at a fee) to obtain one. Is this true? Should their be a cost associated with an estimated HUD?
>>Is this true?
Yes. An estimated HUD happens at the end of the mortgage origination cycle and includes all fees associated with the loan.
Yes. An estimated HUD happens at the end of the mortgage origination cycle and includes all fees associated with the loan.
it seems peculiar to me inasmuch as there's not much chance of having any accurate figures so far in advance of a closing. of course, you did say they wanted an "estimated" hud. i hadn't heard of this occurrence in the short sale process before.
and forgetting to log in...
it seems peculiar to me inasmuch as there's not much chance of having any accurate figures so far in advance of a closing. of course, you did say they wanted an "estimated" hud. i hadn't heard of this occurrence in the short sale process before.
it seems peculiar to me inasmuch as there's not much chance of having any accurate figures so far in advance of a closing. of course, you did say they wanted an "estimated" hud. i hadn't heard of this occurrence in the short sale process before.
thanks for your help.