And 35 percent of buyers were surprised by higher-than-expected closing costs
By Marian McPherson | inman
In October 2015, TRID — the TILA-RESPA Integrated Disclosure rule, or “Know Before You Owe” — was implemented to make the lending and mortgage process more transparent and easier to understand for consumers.
Although the rule has mainly achieved its goal, there are still some parts of the buying process that remain a bit of a mystery to buyers.
What’s surprising buyers at the closing table?
ClosingCorp, a provider of residential real estate closing cost data, released its latest survey, which shows buyers still need more education when it comes to the fees associated with closing on a home.