Florida Mortgage : Learning Center

You just spent time researching the Internet and asking for your friends favorite mortgage professional.  You have applied for your new home mortgage financing and recently received your mortgage loan disclosures and must sign each and every one.  It may seem a bit intimidating especially if you are a first time home buyer.  Who knows what these actually mean; what is a 4506-T form or a servicing disclosure statement, etc…?

The best way to understand any detail on these mortgage loan disclosures is to simply ask your mortgage professional.  If he or she does not know the answer then maybe you should reconsider who you are entrusting your biggest financial decision.  There are many Federal and State laws cover consumer disclosures but none enforce explaining any of them upfront to consumers.  We need to make sure every first time home buyer knows the mortgage program they have selected by explaining each disclosure.

It should be the mortgage professional’s responsibility to make sure each home buyer knows the details of their financing prior to closing.

Stephen Thaggard

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