2-Real Estate Settlement Procedures Act-Closings

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REAL ESTATE SETTLEMENT  PROCEDURES ACT The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute enacted in 1974. Its purpose is to clarify settlement costs and to eliminate kickbacks and fees that increase settlement costs. RESPA specifies certain closing procedures when a purchase: Involves a residential property, including one to four-family residences, cooperatives, and […]

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1-The Closing Event-Closings 3-Financial Settlement of the Transaction-Closings