Thank you all for your replies. I wanted to add that this RE is kind of "family" so they're stepping lightly trying to resolve this with her. I wanted to post what was sent as "closing statement". She is supposed to drop off the HUD (which I thought were one of the same) today 9/18/2009.

Can anyone tell me if the following "closing statement" makes sense? Also, notice the Lender Fees (around $3,800) is that REALLY high? She has a paper that says bank fees were $690.00 (BTW yes she is in the home doing extensive renovation).

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The following is your closing statement for the purchase of your residence located at the premises indicated above, as of August 10, 2009

CREDITS TO SELLER
Purchase Price $293,550.00
Fuel 459.02
Real Estate Tax Adjustment (pro rata 9/11/2009 – 12/31/2009) 577.00
School taxes (pro rata 9/10/2009 – 9/30/3009) 240.00
Transfer Tax Credit ($285,000.00) 34.20


TOTAL $294,860.22

CREDITS TO BUYER
Downpayment $ 25,000.00
1st Net Mortgage Proceeds (Purchase Money) 243,855.04
Property Disclosure Credit 500.00
Sellers Concession 8,550.00
TOTAL ($277,905.04)

ADJUSTED NET DUE SELLER $ 16,955.18


CHECKS PAID BY PURCHASER $ 16,955.18
Certified to name taken out $16,955.18




ITEMIZED BREAKDOWN:

CHECKS PAID BY PURCHASER OUT OF MORTGAGE PROCEEDS
$264,195.00
1. Equity Settlement Services, Inc. (Title Costs) ($ 7,809.56)
2. name taken out (Bank Attorney) ($ 500.00)
3. Lender Fees (Bank of America) ($ 3,869.72)
4. Mortgage One (Broker Fees) ($ 7,694.88)
5. name taken out (Buyer’s Attorney) ($ 465.80)

TOTAL $20,339.96
Net Mortgage Proceeds Paid to Sellers $ 243,855.04

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First off, she should have definitely gotten a good faith estimate. It's required by law. The HUD1 statement is needed to get the loan funded. Her lawyer should have the HUD1. Get him/her to send it to your sister. Is she living in the house? If so, I can't imagine that the seller(s) and their attorney went along if it was a scam. Have her go to the township in which the property is located and check to see if the deed has been recorded. The mortgage broker will almost certainly claim that your sister was given the good faith estimate. She could probably get in touch with the New York State Banking Commission about this. Good luck.

Ralph Windschuh
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com

Ed - you can't close without a HUD. A loan cannot be funded without one.

I advise all my buyers to check with the township they purchased in a few weeks after closing to make sure the title company who handled the closing did it's job correctly in filing the ownership info with the town.

I should've mentioned, the RE, loan people AND lawyer are the same firm

Why did the Realtor not refer her back to her attorney? Where was her attorney during all of this? Attorneys run these shows and are responsible and the Realtor should be making sure the attorney is deliverying.

Your sister should have received all of these docs at the closing? I would get on this immediately!

Why did the Realtor not refer her back to her attorney? Where was her attorney during all of this? Attorneys run these shows and are responsible and the Realtor should be making sure the attorney is deliverying.

Your sister should have received all of these docs at the closing? I would get on this immediately!