~!!~There are many elements of Know Before You Owe that concern people who work in home sales, but to buyers, the most critical changes involve loan estimates and closing documents — the paperwork you receive at the beginning and the end of the mortgage application process//©
~!!~Before the change, homebuyers received the poorly~named **HUD~1 Settlement Statement** ~ short for the U//S// Department of Housing and Urban Development ~ at closing, when they were already busy signing dozens of forms and unlikely to spot errors// The HUD~1 looks a bit like an accountant*s ledger or an IRS tax form// Borrowers were also presented with a separate Truth In Lending Act disclosure//©