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Internet-based Closing Means Good Faith Estimates Could Get Better
Expert Author: Carolyn Capalbo | Category: Mortgages Refinance
What does this mean for the ordinary mortal? Well, for one, it could make the “Good Faith Estimate” (GFE) – the itemized statement of fees and costs associated with a mortgage – better. Right now, the so-called Good Faith Estimate is not really good, nor should you put your faith into it. Many people have found that their final closing costs are a lot more than what they were led to believe from the initial estimate.
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