If a family has. to spend more than 30% of their. income on rent, they are considered. ârent burdened.â. This document is for informational purposes only. This is not an application for affordable housing. you will receive an affordable unit. get more information or to apply online.  you will receive an affordable unit.
The Closing Disclosure will combine the disclosures currently provided in the HUD-1 settlement statement and any revised Truth in Lending statement. It is now a 5 page document compared to the current 3 page document. Critically, the Closing Disclosure must be provided at least 3 business days before the closing.
The Closing Disclosure, along with a new Loan Estimate, goes into effect Aug. 1, 2015. For software providers who must update systems to support the new Closing Disclosure, the UCD will take much of the guesswork out of determining which pieces of data go into which spots on the form.