Excerpt from: Real Living Expert Advice
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| January 19, 2007 | | Final homebuyer tips from the National Association of Realtors® on avoiding predatory lending. | If you’re buying a home and plan on financing a mortgage, keep in mind the following tips from the National Association of Realtors® on protecting yourself from predatory lending: • Get educated on the value of your home by asking your Realtor for a comparative market analysis. • Review the HUD-1 closing settlement statement before closing. This statement itemizes all charges imposed upon a borrower and seller for a real estate transaction. Upon request, homebuyers have the right to see this information 24 hours before the loan closing. • Report possible violations to appropriate federal, state and local officials. When considering a home purchase, don’t go it alone. Working with a real estate agent is a wise move. A real estate professional can guide you through the various financing options available, plus give you detailed market information and assistance with the negotiating process. Visit RealLiving.com if you need more information. Happy house hunting! | |
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