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Short Sales A-Z™ Online Class Chapter 17

Chapter 17
Short Sale Processing - HUD 1

 

The HUD 1 is the RESPA compliant settlement statement required by the vast majority of banks for closing short sales. This document shows who gets paid what and how much. Understanding and controlling the HUD 1 is critical to ensure maximum profit. Not knowing how this instrument operates inevitably leads to lower earnings.

Objective:

  • The objectives of this chapter are to understand the HUD 1 form, be able complete it based on the purchase and sale agreement instructions, modify payoffs based on the transaction’s needs, and effectively apply the HUD 1 in short sales.

Outline:

  • The HUD 1
    • RESPA
    • Understanding the HUD 1
  • Preliminary HUD 1
    • Step by step completion of a preliminary HUD 1
  • Use of short sale processing flow chart
  • Sample document analysis

Time:

  • 17:44 minutes

Short Sales Class Chapter 17-1

Short Sales Class Chapter 17-2

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