Question: Prepare a HUD-1 Settlement Statement for a transaction with the following closing information: Property Address: 123 Nancy Drive, Anytown, ST 06106 Current Owners: Patricia F.

Prepare a HUD-1 Settlement Statement for a transaction with the following closing information: Property Address: 123 Nancy Drive, Anytown, ST 06106 Current Owners: Patricia F. and Mark Franack Estate or interest: Fee simple absolute Source of Title: Warranty deed in survivorship from Ronald L. Carson and Patricia Carson dated and recorded December 27, 2007 in Volume 814, Page 97 of the Anytown Land Records Description of Property: See Schedule C Outstanding Encumbrances: Taxes to the Town of Anytown on the list of October of the current year not yet due and payable. Mortgage in favor of Countrywide Mortgage Co. dated and recorded December 27, 2007 in Volume 814 Page 97 of the Anytown Land Records. The principlal amount of the mortgage is $137,000. Easement in favor of Conn. Light & Power Co. date and recorded January 23, 1999 in Volume 745 Page 67. Deposit: $5,000 Taxes: 10-1 (last year) list due July (this year) and January (next year) = $4,266.96 = $355.58 per month; $4092 for 10-1 (two years ago) list $11.21 per diem Oil $275 gallons @ $2.16 per gallon Real Estate Commission = 6%; co=broke The Real Estate Agency and Century 22. Existing mortgage to be released by Society for Lending; $137,126.32 through May 10, (current year); $30.05 per diem New Mortgage: Savings Bank of Niford $270,000 at 6% plus 1 point, 1 point due. Per diem interest $44.38; application and appraisal fee $325, paid outside of closing; credit report fee $75 due. Lender's Attorney's Fees: Alic Justice

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