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,- S:iJi OF A?�^AIScD VAIU: FO^n
<br />f.l•SJRiGf.G'c i0 C: ItiSU;;:D UND'cR
<br />iHc tiATIONAL rOU$iNG ACi
<br />❑ 5��. ���i�� ❑ SE�.
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<br />�@STILfAiE OF VAWE AND
<br />CLOSING COS75
<br />VALUcOf P^nOPERTY 5 (��>��'��
<br />CI sinn Cosis ...... :.S � i J
<br />TOiA� (Fbrl�fnr!/(nge��' �(i!
<br />Irisun�nr: f•urnn.v.l .. $ �r 1
<br />:Oh1h517iED FOR INSIIpANCE
<br />`L .• v i. •
<br />ESiIMA1E
<br />Fire Ins..... $
<br />ia�os...... 5 ; �
<br />I.4oin.ERepnin j ��
<br />IioatLUlllii�ics $ �
<br />COMfAIiMENT
<br />Istvad: ' ' -' � i 19 '
<br />Enpiras: . . . _ 19)
<br />DE; INIiION OF V�itUE
<br />Tde Frderct Ilousing Commissianrr hns unluad tde aLoue idenfiJird proprrry "Repiaecment Cast' le an eelimnle of Ihe cu:rent ewl b reprodnce lhe proPeny
<br />for n:or:�;ng: insiv¢r.re purpos;s ii� fl;e amomi; s/;owit 1nNuJing Innd, InUor, elle eun�ey nnd morkeling ezpenx hul excluding puymeme
<br />i� iL1'e catlmnte oC ^Val��e" ("IIe, Ineemmt Cost' In Seclion 218 oe 220) does �or prepnid expeneen euch ae Inzce und Insurnn:e nnd tloeing eo�b.
<br />aot !:x a sa�ee price, except n�hen the mo:�ga�e is to be inwred under stttlon 7( ���� �oNrncl pztce of tLe praperty le equnl lo or leee thnn •Value of I4operty',
<br />2�5(q; Coc; nn: lr,cic�te FIiA approval of o purch�eer o( tSe properly; nat and lhe buy.r pnye eioRing <oete, n pnn af �he cioeing m.te enn be IncludeJ In
<br />does It indicalc :hc anount of nn insured mongngc thnt w•auld 6c npproved. i�e mongoge. IF 'PHF. CONTRACT PItICt: OP Tiiti PIIOPF.IiTY IS �lOitF.
<br />TIfB FS'il\t.�:8 pI' VnLL'E A\D CLO51\G C0525 A➢OVE HAS TiiRF.ti T1iA\ ^V:�I,U6 OF PfiOP1iRTY" AND TIiE UUYEit PA}'S TIiF. CI,OSI\G
<br /><'•�� ��� C057'S, 'PII f: OUl'Iill i5 C.U'IKC 810Rli FOR 17iE C�:Ol'lIITY TiL1N FIiA'S
<br />^VALUg OF I'itOP&RTY" i5 cIil:S ESTI32AT8 Oc TiiL VALUF. Or TiiE �STI\fATE Oh' ITS VALUR.
<br />Pit02EIITY. Thc law r.Gulrce thnl FIiA mortgngora reccice � s(Nemrnl of "npprNs�d rnluc'
<br />"Ciosin; Cusis' le the FilA estlmate of Q�e coet ot closing n mo:ISnge loan P��or lo Ihe sule of Ihe proP�ny. If U�c enlee emilruet hna 6ren slF��ed before
<br />un tF.e pruperl •. Slicsc mels ma � be the mort6�For rmelres euch o elntemeN, lhe eonlrnet must cvnMin, or muel he
<br />> y pn�d by eilher the buyer or the ceGer. nmended to Include, ihe fo11ox9nR ���6uu6�7
<br />"iotal for S:or:gn;;. insur.mce Purpo:e,' Includes 6o;h the vnlue o( Ihe pro, erty +�� �y ,, ogceed thnh. .., the purchaecr shnil not be obll6oled ta
<br />and estimated r,os:ng costs. Tne maxtmum mone+P.e whlch i�ifA can Inaure �ampicle tne urchnec ... or to Incur nn �
<br />1s Uased on p�is aaiounL Under tliose seeUone of tl�e \ationnl }{ouslnS ���� p y penally ... uNess llie
<br />(cucn ne 213 or 42J) wher. L5e maxlmum mrtga6e nmount must 6e bnsed eelier hn� deiivered lo Ihe purchnser n wriuen �letemenl seuing
<br />o� estimnted re, Inecment coct, U�e "Vnlue of P:operty �hull 6e deemed to menn rorih .., II�e vulue of loe proper�y (esclvding c�ueing cosle) nol lese
<br />:epiocementcostfannort�ageinauruncepurpoaee." �1O^ S . Tim purehneer d�Nl hnve the privite6e
<br />.., of promding w�ilh ... lh� conlrnct withoul rcg�rC lo ihe amount
<br />of tnc , . , vnluntlon."
<br />ADVICE TO f
<br />A0�'.1\CE P.1Y�[i:\TS •\fakc cxtru pnyments u•hen nble yuu pny lees Im
<br />tar.at , n� h�ce yuur i�ome paid for sooner. \ollfy the l.nder in wrlting nt Iene1
<br />30 d�ys Lcfurc tiic mcguiur papnent datc on wLieh you INcnd to makc on od-
<br />vmsc paymenL
<br />DEi.]\QUF.ST PdY\tii\TS -\foN}���. p�ymenb urc duc Ihc fi:nt dny of cach
<br />montL and s;iould be mude on or 'uc:orc thot Jate. Th.• Imider may make a
<br />:a;c c::arge up to : eenta for ench doliar of any payment more Ihnn 16 days
<br />lite I( )vu fail for 80 dnye to mukc . payn:ent, ur to perform any olhcr ngree-
<br />mu.i in Ine mor.gage, your Iendcr mny foreciwe. You <ould loec pour home,
<br />Jar.inge your ec:dit, und prevent yune oblNning further mongnge lonne. I(
<br />exlrnardinn:y �Irvms;ances pcevent )rour mnking paymen�e on tlme, eee yout
<br />Irader al onee. I( pou nre tempurarily unaDle to mnke your pnymente hecause
<br />of Iline.:, loas of Job, Uc., )•our lender may bc nUle to help you. Ask your
<br />Sencerto�xp;alnt'u.�•sto�bmn��cepoL'cy. YOU;i CREDIT IS AN IAlPOR-
<br />iANT A55LT; DOf�'T LOSE li THROUGH NEGLECT.
<br />dD1US:I:D PTS\:IU\f CIiARGE - It you mnke ezhn pnymcm� .n nny yenz
<br />c: moro ihan 1u1: of tl:e orl;;innl morlgagc nmoani, 1'au n:ay m�c to pny
<br />cn ndjus;cd pr:mim:i cimrgc. 7'i�'s cnnrgc la 1`: of thc origin: morignge.
<br />SI:d is nmhorccd to thar6e n premlum ot not less thnn !j of 1% nor morc
<br />Ihcn 1': p,r ycnr, Uul Las sN, the pmmlum nt !j o( 1`: nssuming 11 �cill Uc
<br />p:�:J a�•cr t1m wliolc murlgage Icrm. 1\7�en n mortgngc ia pald ofI In ndvmicc,
<br />C:c prcmWms coll.cicJ do nol coecr FiIA cost and an nriJucicd prcmlum le ��
<br />c:u�:,:.d to offsct lim loss. if piis cLnr;c werc nat mndc, tuc'pr.miwn u•ould
<br />i��;.ce ;o hc IdGLcr. ,1n aiijusled prcn�,ium le nnl mnd: li n nc�v FIIA monGngc I
<br />;, pluccd ou U�c , roperty, or ii the YiIA Incurnnce Is N force tor 30 yeve oc I
<br />tun;;c:.
<br />;.�:;::s, nssess�.:;s��,s, ASD ISSURA\CA: • Scnuyourl.ndcrbiils for t�xcs,
<br />�pe:ial nsscssn:cros, or :ice insurancc thnt iomc lu yow :hc firc ir.mnnce the
<br />lcndcr rcqaias you :o mrr}• usu�ll;; te�•.ra only tlie bular.cc o[ U�c lonn. Check
<br />U�i.: with pour lenucr. You :nay wisii W Wkc o�d militional hssurancc �o tnnt
<br />1f ii�¢ iioasc L damngc:l yoar iass will Uc mvcred ue �rcll ne Ihc Icnder'e. II
<br />pnur Lumc Is damn�;c1 Uy Gr¢. �eindafnrny oi u:nCc c, ust. q'[ilc yuta ICnd.r nl
<br />����i'�. 7'.��es tor �ne eoming year enn't Yo k�ma�n w�tli t:v hills are receired.
<br />It �Lcy excecd tSe nrnounl nccumulaled fmm your p�y�mcrta, you v:lll ue nsked
<br />to p, y the ditf.raaco. I� I'ec7• ;v. ]ece, C:;e dl(ic:ence �vill im aeElted to you[
<br />nccuuu6 '1'hc s. mc :s Imc of firc IneUcnpcc. Somc Stnlce �I:o'.c ]to:ncricnd o[
<br />vac:mPx k.x c:omptinr.c. �1, p:y :or nny exauptlm� to wL:cL you mu�• bc cn•
<br />titlo�'.. \1'hcn il l.v nppr.��•cu. �.u::iy your ]cndcr.
<br />CIA51\G C051'S - in �hc l:enuin„ is 1'IiA's eslimale o! anlicipalcd ctosiny cosls�
<br />sucli ar f¢es fac yttpucat:on uf mury:ag¢ instromenty, allo[ncys' Ses. litic im
<br />eu:m:ce, originnllun tecs :nid ducumenmry nlamp lnxca. 'iSe estim�I. does not
<br />lncludc chnq:cs fur �vcL prcpap:iLlc i;cros as t:�::cs� ilrc lnsurancc.
<br />NIiU' Cn\S�:;i1C7'Itl\ . lt'i�c:� PIL1 nppruvcs pinns nncf r�pecific::lim�: �¢(ura
<br />cm�,iruc�iun, thc LuCJcr in rcquircd lu wartnut Uwl U�C housC Confonns lo np-
<br />proved ylaue. 'i uia �enr[:�nIY Ix for 1 yea: fullua�L:,^, ll's da:e un ��'P.Ich tiL'C Ls
<br />ronrq�ed lu IL. ori�iunl buVer or lhc dulc on niiici� thc Luas'c N•. s fin[ oCcupic<l
<br />�r1��irLevcr orcure fr..;. i( curin:: the w':a�anty p¢:iuu you nolice dc(ecls foe wLicS
<br />�,OME 6UYER5 .
<br />'�. yau belicrc tLc huildcr ie reeponetble, nek hlm In a�rlling to cortect them. If
<br />hc fnlls Io do eo, notUy ihe FIIA ineuring otlicc In wriling. Afentlon Ihe FIiA
<br />cnae number ehox•n obove. If Inepeclion ehowe Ihe bulider lo be nl Inull, the
<br />PIIA wlll try to peraunde Lim to mnke mrrmtlon. If he duce not, 7rou muv Le
<br />uble lo ubinin legal rrlle! under IhC bullder'e wurrnnp� nnJ rchere n etruc�urnl
<br />dcfccl Is In�'ulecd Ihc FIlA hns nut6orily lo pravldc finnnclnl assirinnce In
<br />mnnrclinn wiih mnkin�; corzcctlona. Tloal 6uildcre tnkc prldc 1� ILelr xrork nnd
<br />x9i1 mnke Justil7able eorreulom. TLey .annol be expected to corrmt dmm�ge
<br />cnused by ordinoq� weor md Ienr ot 6y poar mnNtcnance. Frcping the hawe
<br />In Faad condllion le ILc owner'� reeponeibllity.
<br />r'.SISTIXG PROI'F:HTIF,S • Whcrc lhc appllc�tlon Involvee nn exletlnR propvly
<br />FIiA mnkce nn npprnlenl b Jelermine tLe property'e vnlue. An npprnleal daee
<br />nol n•nrrmri thc mndiilon of thc prupecry•. Polentinl Duyere ehould exnmine lhe
<br />propcny enrefuliy Lefore a�gning n purchnse contmct. The FIIA �oes nol hnve
<br />authority to pmvide financlnl nsslslnnce Sn conncclian �rith mnking necded re•
<br />pNrs, esce�it �eherc the Ioan la Imured under5ectlon 2�5. 7( Wc lunn le InsureA
<br />wider Secllon 235 mid eeriaue de(ecln whlcU esisted nl 1he limeof Ihe PIL1 cummll-
<br />ment should hace 6een Jiscovemd bv the FIIA, the PHA hne nutliorily lo nro-
<br />Wde f.antlul nsslslnnce In eonnccllan �cith havinl: lhe defcas corrceted. In
<br />euch cnses yon Rhould mtify We loenl If UU/b'iL1 o(ficc 1 di (•I p d� .
<br />cm•orin„^ ILc dekcis.
<br />OPPRATI\G SXi'IiNSF.S - In the hending nre r11A estironke of monthly coele
<br />of Inxee, heu; nnd Wlilliee, (ire Inawmue, mNnlennncc nnd repnlre. The ee�ImNed
<br />fi,;urce �clll pro6nlilp hnve to be mijueted ahen yau rceelve the nc�unl Lllle. 0[AR
<br />W hiIND THAT IN A505T COtdA1UNITIES TAXFS AND OTHGR OPERAT-
<br />InG COSTS ARE INCREASING. 9'hc eetlmn�es should gh•e eame lden of
<br />x�iu.1 yuu cnn expccl ihc coete to be nt Ihc beglnnlnR• In eomc arene PIi.1'e
<br />cstimale o( tnxes may nleo Include chargca euch a� �ewer thurges� �ncUngecoliea
<br />tlon fce, wntcr rales, etc
<br />IS 1'Oli SF.LL • If yau eell n•hVle Ihe mortRogc ezlsle, lhc Luyer mny Mnnce
<br />eevernl wnye. lindenland hatr Wcae nrrnn�emente mny ntfcct ynu, Coneult
<br />yuurlaidcr.
<br />1. 1bu mny scll for nll cnsh nnd pny of( your morlgn�{e. TLI� ende your
<br />]I:�bilily..
<br />... 'fLe Luper can nssume tlm morlQnge nnd pny the dlffercnce fictn•cen tLe
<br />Unpuid Lnluucc ond Um nelling �idec In cneli. If Ihc 7:ILl nnd ILc L�nJcr
<br />nrc u�L'pn� �o acccpt Ihc buycr ns u mnrlgngcc, pou cnn Uc relcuecd from
<br />funhee liabllily, Thle tequtrca li�e epccific npprovu� of Ihc lender nnd thc
<br />i'IiA
<br />(01TH:,'.02TB:AOOV�:TIVOidCiFIODS IS PdFFERAULE TO A1EiHOD
<br />NUhl�c�2 3.1
<br />�, 'iLe bupe: ttm pny tl�e uL'fcreuce In cmL mul pumhnse eubJcct In the un.
<br />� nl�i mon�af:c L:il;nx.. i� ll�1 nr icndcc upprovnl la nol ucccsenq� 6U 7 1'O U
<br />9:�L1W LIA6.'c ,'-OR ille Df-67. IF THE 6lIYER D'eFAULTS, IT
<br />COULD R:SULT IN A DcFIGFNCI' JUDGIdL�Ci AND IhSPAIR
<br />YOUR CR@Dli SiANDING.
<br />il,NO Wi T 70 GC 60RROW ED
<br />\Furn yau Lurrow Io l�uy u lio.nq You yxy Inkccet und othcr rnnrgca whicl� udd lo yuur coe6 A Inr6er dox'm
<br />Y�Y���<m x'1�I rtuultln n�mnlicr mongage. llorrow aa Ii:Uc ne you nccd und repuy in the elmrtcel Ilmc.
<br />. —_.-- ..i:�iT��retn��i...�.11r��i��:�,ll�:'iuYtV1�,�••"... .i
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