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The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance.

The HUD-1 form, often also referred to as a ?Settlement Statement?, a ?Closing Statement?, ?Settlement Sheet?, combination of the terms or even just ?HUD? is a document used when a borrower is lent funds to purchase real estate. Another acronym used in relation to the HUD form is GFE, which means 'Good Faith Estimate'.

The U.S. Department of Housing and Urban Development (HUD) prescribes the form of settlement statement. This is known as HUD 1. HUD 1A is an optional form used in transactions without a seller, such as a refinancing.

A settlement statement is a document listing the terms and conditions of a settlement agreement and details all related costs or credits due to each party. A mortgage loan settlement statement is commonly known as a closing statement.

The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance.

So you have finally reached the end of the long and tedious process of buying or selling a home. Now everyone is talking about the closing day, which is also known as the settlement. Most people refer to this process as closing instead of the settlement.

The HUD-1 lists all costs related to closing the transaction. Federal law requires the form to be used as a standard real estate settlement form in reverse mortgage and mortgage refinance transactions. Most buyers and sellers review the form with a real estate agent, attorney, or settlement agent.

The final settlement or closing, is the final step in the transaction. The settlement or closing date is set beforehand and on this date the parties consummate the purchase contract, and ownership of the property is transferred to the buyer.

The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance. If you applied for a mortgage on or before October 3, 2015, or if you are applying for a reverse mortgage, you receive a HUD-1.

While closing disclosures provide information about a borrower's loan, settlement statements do not include loan information. Settlement statements are used for commercial transactions and cash closings.