If you think you've mastered the material in Chapter 6 of Mortgage Basics, take our quiz. After you click the "submit" button, the answers will appear below.Two important things happen at closing. What are they?You pay the man, you get your keys.A clerk will affix documentary tax stamps to your deed, and you sign the Good Faith Agreement (GFA).You sign legal documents and pay closing cost and escrow items.Can you avoid escrow?Yes.No.< Previous Chapter | Next Chapter >> advertisementRelated Links:National mortgage rates for May 17, 2012Rates keep dropping and refis are hoppingSlow but steady grows the Florida economyRelated Articles:Rate Trend IndexApplying refund to mortgageScared of closing costs?
If you think you've mastered the material in Chapter 6 of Mortgage Basics, take our quiz. After you click the "submit" button, the answers will appear below.
Two important things happen at closing. What are they?
Can you avoid escrow?
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.
The new housing secretary delivered his first major speech since taking office. What's his top priority? He doesn't say.
... Read more