Friday, February 17, 2017

17 Percent of Consumers Unaware That Mortgages Involve Closing Costs

Posted To: MND NewsWire

Despite the regulations imposed by the Truth-in-Lending/RESPA Integrated Disclosure (TRID) rules and disclosure forms in October 2015, some homebuyers still say their final closing costs caught them by surprise . Some appear to have been unaware that closing costs were even required. ClosingCorp, a provider of real estate closing cost data and technology, has released results of a new on-line survey that explored whether TRID has helped consumers better understand the closing costs associated with purchasing a home. The survey, commission by ClosingCorp and conducted by Wilson Perkins Allen Opinion Research, was conducted in early January, among 1,000 adults nationwide who had purchased a home during the 12 months ended on January 1, 2017. When asked what surprised them about their closing...(read more)
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from Mortgage News Daily http://ift.tt/2lqEN4Z

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