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(MCT)--The challenging part of the closing process is perusing the transactional documents that indicate whether or not you are getting the deal you believe you negotiated or were promised.
This is the most challenging part of the process because the stakes are high, and the time pressures severe. The transactional documents that define the terms of the deal are subject to change as the transaction moves toward closing, but it is only the final set of documents that matter. In the typical case, the first disclosure is sent before the borrower's property is appraised, and before the loan terms (interest rate and points) are locked. This usually results in a second disclosure following receipt of the appraisal, a third disclosure when the loan is locked, and sometimes a fourth disclosure if the loan terms change for some other...
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