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Real Estate Glossary

What is the HUD/ Closing statement?

HUD is an acronym for the Department of Housing and Urban Development, a government agency that was established in 1965. President Lyndon B. Johnson established HUD as part of an effort to combat poverty.

It is a document that lists all charges and credits owed to the buyer and seller in a real estate transaction or a mortgage refinance transaction.

It must be used for all real estate transactions that are subject to the Real Estate Settlement Procedures Act unless it is specifically exempted by federal regulations.

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Beycome Family of Companies: Beycome Mortgage LLC provides home loans; Beycome Brokerage Realty LLC, Beycome Brokerage Realty Inc., and Beycome of Florida LLC provide real estate services; Beycome Title of Florida LLC provides title insurance services. These are separate entities under Beycome Corp., each governed by its own management as required by law, but all owned by the same individuals, forming a business relationship.
Beycome Corp. holds real estate brokerage licenses in Multiple States: Beycome of Florida LLC is licensed in FL. Beycome Brokerage Realty Inc is licensed in CA. Beycome of Connecticut in CT. Beycome Brokerage Realty LLC is licensed in AL, GA, IL, IN, MI, MN, NC, OH, SC, TN and TX.
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IDX© information is provided exclusively for consumers’ personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate.

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