Here is the link for understanding the Loan Estimate: kzread.info/dash/bejne/Yn5qss6TosW2o8Y.html

The disclosure statement is very well explained with graphics to follow along with a detailed explanation.

@MortgagesbyMiles

7 ай бұрын

Thank you!! I’m glad it was helpful.

This is a very thorough explanation compared with some other videos I have seen. I like that you speak at a nice pace that’s easy to follow along with, and in a conversational tone. Very helpful!! Thanks so much 😊

@MortgagesbyMiles

Жыл бұрын

Glad it was helpful!

ghreat explanation, you went through all the points. thank you

@MortgagesbyMiles

9 ай бұрын

Glad it was helpful!

i am now at conditinally approved step and waiting on intial closing disclosure

Very useful information.

@MortgagesbyMiles

9 ай бұрын

Glad it was helpful!

Thank you for the thorough explanation. I just received my initial CD today and I noticed there are some fees like courier fees, edoc fees and loan tie which weren't on my LE. Are these fees by lender or title? I went ahead and signed it because Im already a week late in closing, but my CD have no fees on the seller's side as your example. My contract stated some fees will be covered by the seller, but it's also not listed on the CD. sorry for all the questions. I reached out to my LO today twice and he didn't reply back to me. Do you think I'll be fine with closing on time? Communicating with this LO haven't been that good and first time homebuyer experience really killed it for me

@MortgagesbyMiles

Жыл бұрын

I’m sorry you are having poor communication from your loan officer. Those fees are from the title company and not the lender. If it is not clear what the seller is is covering, check with your realtor and/or escrow/title officer. They should help clear up what the seller is covering. If you need some additional help, please feel free to reach out to my team. If we are able to see the CD and contract, we can give better advice. Good luck. 385-250-1411 TeamMiles@superiorlending.net

You state at the very end of video, "multiple other CDs are allowed after you've signed this conforming receipt." I'm confused. My mortgage servicers stated to me that they had six to seven different closing disclosures. Are you stating that that is legal? I would think this closing disclosure that we just did would be written in stone unless your required to restart a CD because of the three reasons. Another question if you don't mind? I prepaid my mortgage insurance. The lender added it back onto my loan on accident. Should the prepay of my insurance actually been deducted under section L. I'm double-checking everything and I appreciate your video. I learned a lot from it. I'm in Illinois. I recently have been informed that my lender change the terms of my mortgage and purchase after closing. Then the title company assumed I had no closing documents because I was requesting accurate copies. The lender then registered my home at a higher price knowingly. I reported it to everyone and anyone you're supposed to but how do you actually go about correcting a improper registered property purchase price and is there a time limit I have to have errors on my CD corrected? I appreciate your assistance.

@MortgagesbyMiles

Жыл бұрын

Aliza - I'll do my best to answer all of this. 1. Multiple other CD's - It is legal to have revisions to the initial CD. It is very common. Typically, our initial CD is very close to final numbers and usually the only adjustments are adjusting the closing date, days of interest, and pro rations (taxes, insurance, hoa). 2. Your closing - It sounds like your loan officer was a bit of a disaster. I'm sorry that you are dealing with this mess. Here is a little info, but you may need to speak to an attorney. A corrected closing disclosure can be issued post-consummation up to 30 days. Depending on the type of error(s), the lender will need to correct the errors. I usually don't encourage civil litigation, but if you were harmed in this, definitely talk with a real estate attorney. In the end, if your cash to close, monthly payment, and terms of the loan ended up in line with what you expected, then I would say to pay the mortgage, leave the loan officer a bad review, and not use them again. If I can be of further assistance or help, please feel free to reach out. (BTW -we can do loans in Illinois now and would be honored to help you in the future) TeamMiles@superiorlending.net or 385-250-1411.

@llg1348

Жыл бұрын

@@MortgagesbyMiles you are so kind to assist. I am seeking an attorney due to my loan terms changing and the lender presenting new documents as originals almost a year and a half after closing. I still have no documents that are correct and either do the servicer. I'm desperately seeking an attorney and a restart at no cost but has become quite the task. Thank you again. I have saved your info. Is it possible to hire you to go over my loan and tell me what's wrong? I would most definitely be interested in that.