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Bessie Said:

What is HUD 1 or final HUD in US Mortgage ?

We Answered:

a hud 1 or final hud it the final figures you have when they close the loan on a mortgage. this includes your lender fees APR and all fees included in the loan and the closing to include title insurance etc. this is the final numbers it is exacty what you paid and will pay in interest and fee's to the penny! you get a preliminary estimate in the initial stages of the loan once the rates are locked and the loan is approved the title company gets allinformation on the loan and the title, insurance,taxes and so forth. they break it down and it is tallied on the final hud1.

the hud 1 is the percise anoutn of all fees broken down.
by law the lender should have given you a good faith estimate it should look very simular and the lender fees on the estimate can not exceed the HUD1 if they do they have to redisclose the good faith estimate.

Albert Said:

What access to CDN assets does a US mortgage company have when a Canadian citizen defaults on a US mortgage?

We Answered:

I would ask an attorney this question. Typically, most states have laws that require a mortgage company to only one solution for the mortgage. If they opt to foreclose on the home, then any other option may not be viable. For example, here in California that is what happens. A home can either be foreclosed on as the only remedy or the mortgage company can release the lien on the home and go after the owners other assets, but not both options together.

Again, contact an attorney about this. I would not give advise on this and certainly would not accept any with the person holding a valid law degree, specifically in real estate and foreclosure laws and preferably in both American and Canadian Law.

Good luck

Marjorie Said:

How does a Canadian Citizen who relocating to the US with a new job offer able to obtain a US mortgage?

We Answered:

You just need a Visa, Social Security Number and credit. Most of the creditors are international. Have a U.S. Lender run your credit. It is not hard to get credit onto your report. Good Luck.

Russell Said:

Why don't US mortgage banks give out loans for buying a house in another country?

We Answered:

I imagine an American company trying to foreclose in a foreign country would be a HUGE issue; added expenses all over the place and that they would refuse or refer to a subsidiary or partner bank locally out of course.

Margaret Said:

Is there a US mortgage company that allows purchase of an overseas house?

We Answered:

None of them will approve. Our courts have no jurisdiction there, giving the bank no possible way to recover their money if you are a creep.

You need to use a bank in the country you are buying in.