April 14, 2006

Closing costs connected to ups, downs of lending fees

As a rule, people buy or sell very few homes in their lives, and those buyer/seller transactions tend to take place over time with big gaps in between. So while real estate agents, mortgage lenders and title companies stay up on what happens at a closing, consumers must re-educate themselves each time on the meaning and appropriate charges associated with closing and settlement.

In some parts of the lending environment, “junk” fees boost closing costs; other fees such as title insurance tend to go up on a yearly basis. And while some fees in the state remain fairly consistent throughout,…

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