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Costs
of Settlement on a House
A
house is probably the single largest credit purchase for
most
consumers--and one of the most complicated. The Real
Estate
Settlement Procedures Act, like Truth in Lending, is a
disclosure
law. The Act, administered by the Department of
Housing
and Urban Development, requires the lender to give you,
in
advance, certain information about the costs you will pay
when
you close the loan.
This
event is called settlement or closing, and the law
helps
you shop for lower settlement costs. To find out more
about
it, write to:
Deputy
Assistant Secretary for Housing Attention:
RESPA
Enforcement
U.S.
Department of Housing and Urban
Development
451 Seventh Street, S.W. Room 5241
Washington,
D.C. 20410
Should
you need to phone:
(202)
708-4560
A
Federal Reserve pamphlet, entitled "A Consumer's Guide
to
Mortgage Closing Costs," also contains useful
information
for
consumers.
Do it Yourself Credit Repair Kit. Use the tactics that credit repair lawyers use.
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3 Bad Credit Car Loan
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