Mortgage Errors At Closing

You’ve gone through the real estate buying process and found the perfect home. The seller has accepted your offer. The inspections and everything have been done and it is time to close. You show up the closing ready to buy your new home. Doh! There is one problem. The mortgage you obtained for the purchase is wrong! Ah, what a nightmare. To avoid this problem, it is critical that you do everything possible to see the mortgage docs before closing. Unfortunately, it is pretty hard to do that. The best you can do is demand a HUD-1 settlement statement from your lender the day before the closing. Yes, the day before. It doesn’t give you much time to correct things, but it beats running into problems at the closing proper.