7 Pine Street P.O. Box 166 Eureka Springs , AR 72632

Phone: 479-253-8000 Fax: 479-253-2279

info@carrollcountytitle.com

What is pre-paid interest? This is interest due from the date of a loan closing to the first day of the following month. Most loans require payments to be due on the first day of the month. Each monthly payment reflects the principle and interest due on the loan for the previous month. A loan closing on the 20th day of the month will require interest adjustment through the 1st day of the following month. The first payment will then be due on the 1st day of the month following. Interest adjustment is considered a settlement charge and will be disclosed on the HUD.

Frequently Asked Questions Is it possible to sell a home despite having a second mortgage? What is a "closing"? What is Title Insurance? Why do I need it? What is a Title Search? Why Do I Need One? What is a HUD Settlement Statement (HUD-1)? What is pro-ration of property taxes? What is pre-paid interest?

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