STATE TAX STAMPS
Can anyone tell me whether the amount paid on state tax/stamps showing on the final HUD has to match with the one stated on theTruth-in-Lending Itemization? Shall I be concerned if the one stated on the Itemization is underdisclosed? Please, someone out there help me.
These should match exactly - any item on your final HUD should match the final itemization. If you are talking about the final HUD compared to the initial estimated TIL, then it is acceptable that they do not match. The estimated TIL is just that, an estimation. The idea is to show what will be charged to the loan, however sometimes there are differences due to loan amount changes. The specific state tax/state stamp tax is generally charged to the amount of the loan. Some specific states have fixed amounts. In those cases, it should match.