Real Estate Settlement Procedures Act (RESPA)


Ask lenders what fees they charge, as well as the interest rate and points, when shopping for a loan.

Ask the builder whether you are required to use a certain provider in order to get a special concession.

Compare the costs of different settlement service providers before agreeing to use one to whom you were referred.

Ask to see the HUD-1 Settlement Statement a day before settlement, and compare the charges with those listed on the Good Faith Estimate.

Question the lender and settlement agent about any charges you do not understand.

Keep making your mortgage payment on time, even if you have sent a complaint to your lender.

Forward any tax or insurance bills you receive, immediately to your lender (if the lender is supposed to pay the bill).

Check your annual escrow account statement for mistakes.

Make a "qualified written request" when asking your lender for information or making a complaint.

Read our sections about Escrow Accounts carefully before filing an escrow complaint with a banking or government regulator (see Escrow Accounts, Escrow Account FAQs, and Escrow Account Maximum Limits).

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