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We have been working with a mortgage agent and she has requested a copy of the closing statement with signatures from us the sellers and the buyers' signatures too. Never have been asked for that. I talked to the escrow agent for the property that we sold and she said that it would be a violation of privacy. Now what?
I think the idea is they want to verify that you know longer own another home so that you qualify for the loan. If you want to know why they want that ask your mortgage for an explanation. Easy enough, you just need to communicate to the right people or they won't know you have questions or a problem.
Your HUD1 closing statement is YOURS to do with as you please.
You should have one in your file, kept for the tax man, if needed.
Give a copy to your lender.
We have given her closing statements to copy but insists that she need the ones with signatures on them. I e-mailed her and this is what she said:
"The bank would ask for the complete HUD if the customer close there house within 9 months of time. This is there guideline; it is really common in Texas."
So, where am I, it is too late to get another lender and we loose the earnest money, I don't know! Is this a common practic to ask for the signatures in Texas or not?
If you're buying a house and the loan is contingent upon your previous house selling, then YES, you need to get your lender a fully executed HUD1 statement from that closing. That is the only way they can verify that you did indeed close on the house. It's standard and nothing wrong with it.
We have given her closing statements to copy but insists that she need the ones with signatures on them. I e-mailed her and this is what she said:
"The bank would ask for the complete HUD if the customer close there house within 9 months of time. This is there guideline; it is really common in Texas."
So, where am I, it is too late to get another lender and we loose the earnest money, I don't know! Is this a common practice to ask for the signatures in Texas or not?
Thank you for any help you can give us.
Bird Lover, welcome to TX. I've seen several of your posts & problems and was wondering if you have an agent helping you ? Sure would be wise to have a competent agent guiding you through the process.
Your posts are not real clear. But it's common for your lender to ask for your HUD1 from your previous sale, It will verify you have closed and possibly where the funds came from to close on your new home.
I am having trouble with my morgage agent. To restate this: I have an unsigned HUD from my previous house sale, a document showing that the property was deeded to the buyers in CA, bank statements, copies of the wire statements to the bank for wiring the money.
The lender in Texas says that I have to have give them copies of a signed HUD statement but the escrow company in CA will not give that to us. They said that is a violation of the privacy laws for us to see the the signed documents.
So if Texas requires signed copies of the HUD documents of my previous house and California does not allow that then I can't get a home mortgage in Texas?
Just have your lender contact the title company in CA directly, but Yes, you must have a SIGNED HUD1 not an unsigned one. If the CA people don't want you to see it, that's fine, but they shouldn't have a problem giving the document to your lender. It happens ALL the time.
Ask if a copy of an executed/recorded deed would work, if not -- The buyers side of the HUD is confidential, but if your agent calls the buyers agent of your place and asks them to ask the buyers permission for a copy, (in lieu of the situation) we would all like to think they would cooperate.
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