Decoding Sale and Loan Docs, Part 3.
Educational documents/documents you may need after closing. Educational documents mainly are directed at the buyer/borrower, and most give information about the mortgage process. These contain info which may be useful and should be read. The loan related papers can generate questions that the loan officer should be able to answer. Documents that may be needed for future use by both buyer and seller include the Closing Statement prepared by the escrow agent, which you should give to your accountant to prepare your next tax return. Buyers will also receive a title insurance policy after closing, which should be saved in case there is a title problem later on.