Are Form 8655 Disclosure 2024

Divide this text into sentences and correct mistakes: 1. What on earth is that? That is the new closing disclosure for the buyer. It's six pages long. I'm going to go over it with you so that you have an understanding of how it works. 2. Let's get moving here. At the top, you have the closing information. The date issue is not filled in because it was issued by the lender. However, it went out today just so you're aware. 3. The closing date and the disbursement date are included. Our name is the title company. Personal information is blacked out for privacy. The sales price is $169,950. 4. Moving over to the section titled "Transaction Information," this is where you'll find the borrower's and seller's names and addresses. The lender's name is also listed. 5. On the top of page one, you'll find the loan information. The length of the loan is stated in years. In this case, it is a purchase, not a refinance. The loan product is a conventional loan. If it were a VA or FHA loan, it would be listed here. 6. The loan ID number and mortgage insurance number are provided. The loan terms section includes the loan amount, which is $161,452. This amount cannot increase after closing. The interest rate is 3.875%, and it is a fixed-rate loan. 7. The principal and interest payment is $750.921 and will not change since it is a non-adjustable rate loan. There are no prepayment penalties or balloon payments on this loan, which are rare in the real estate market. 8. To understand how payments work, the monthly principal and interest amount are shown. Additionally, there is $72.65 for mortgage insurance and $177.11 for estimated escrows. The total monthly payment is $1,808.97. 9. The mortgage insurance on this property will eventually fall off, predicted within...