---

Yield spread premium

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
dave Guest	Posted: Tue Aug 26, 2008 8:44 am    Post subject: Yield spread premium Like 0 Dislike 0 I went to close on a home i am selling yesterday. on my hud-1 form they have me paying a "yield spread premium" in the amount of .5 percent of the home selling price. Why would i be paying that as a home seller? please help, only have until 3 pm today to get this cleared up... dave _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
kenl314 Ranked Lender Joined: 12 Apr 2006 Posts: 51 Location: Brentwood, NH 21.79 Dollars($)	Posted: Tue Aug 26, 2008 9:27 am    Post subject: YSP on closing- Like 0 Dislike 0 Hello- The YSP is not ever paid by you, the seller. It is not paid by the buyer either. The bank pays the mortgage broker that amount. I wouldn't worry about it. Congrats, Ken L. _________________ For some interesting insight, please check out my Blog @ http://homequitybuilder.mortgagefit.com Or visit my website at www.homequitybuilder.info
dave Guest	Posted: Tue Aug 26, 2008 9:49 am    Post subject: Thanks Like 0 Dislike 0 Thanks, that is what i kinds of cathered by reviewing some articles on the net, just wanted to get some advice by someone who would know. i think we can get it straightened out, but in case we dont, is there someone who handles disputes that arise at closing or who deals with unfair disclosures like that?
sara Moderator Joined: 05 Jul 2006 Posts: 2645 Location: New Brunswick, New Jersey 488.43 Dollars($)	Posted: Wed Aug 27, 2008 3:10 am    Post subject: Like 0 Dislike 0 Hi dave, Welcome to the forums. The closing attorney will be the best person to resolve disputes associated with the closing. You have spoken of unfair disclosures. Can you say what it's all about? Take care
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Fri Sep 05, 2008 10:14 am    Post subject: Like 0 Dislike 0 sara, i believe he's describing the ysp in question as having been unfairly disclosed if - a big if - he can't get it resolved otherwise. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044
chrisburns Community Expert Joined: 13 Nov 2007 Posts: 382 Location: Florida 65.98 Dollars($)	Posted: Tue Sep 09, 2008 1:16 pm    Post subject: Like 0 Dislike 0 Just call the title company handling your closing and ask them about it. It should be easily explained and cleared to your satisfaction. _________________ Chris Burns Five Stars Mortgage, LLC Office: 800-871-2636 ext. 200 Cell: 407-456-3697 Florida Mortgage Five Stars Mortgage On Facebook
banker0679 Community Expert Joined: 15 Nov 2007 Posts: 452 Location: Charlotte, North Carolina 19.27 Dollars($)	Posted: Wed Sep 10, 2008 6:39 pm    Post subject: Like 0 Dislike 0 The attorney will explain in detail or go line by line on your HUD-1. YSP does NOT have to be disclosed to you since you are the seller..not the buyer. You may have some items on your side if you were paying closing costs for the buyer. _________________ there's always hope! "My credit score shot up 68 points!"

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0