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Hud 1

This is a discussion on Hud 1 within the Home Mortgage forums, part of our Mortgage Chat category; If there is a mistake on the HUD-1 who is responsible? I've been on the boards asking about ...




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Old June 19th, 2008, 06:11 PM   #1
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Join Date: May 2008
Posts: 468
Default Hud 1

If there is a mistake on the HUD-1 who is responsible? I've been on the boards asking about a loan modification. We bought our place Nov 06 and didn't escrow for taxes. We just modified our 1st two weeks ago. Becuase we are late/behind we didn't pay 07 property taxes. The lender called the other day and says unless we can pay $3,600 before 7/1 we should escrow. I was upset b/c this should've been discussed before the loan mod. He told us we should've been escrowing the whole time according to the HUD-1. How can something like this go undetected for so long? Do we have any recourse against the lender? Is it the mortgage brokers fault it's not set-up correctly.
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