Recently a friend was refinancing his house in Dover. The day of the close the bank notifies him that he needs to bring money to the close. No HUD statement was provided prior to the close. If your refinancing or purchasing a home this should never happen to you. You are entitled to a HUD statement 24 hours prior to close. The HUD statement (aka settlement statement) gives you a detailed breakdown of fees, property tax and city service proration’s, and ultimately identifies the exact amount (if any) the borrower needs to bring to close. Although uncommon, sometimes they will sneak a HUD in front of you during the close and ask for you to sign off on it. This is a bogus tactic! Most people at the closing table just want to sign and go home. As a borrower, you will be required to sign off on the HUD at the close. Feel free to contact your bank or title company a week before the close and request a HUD. Feel free to call Dave if you have questions or are considering purchasing or selling a home.