Electronic processes are poised to make homebuying easier on the wallet — and on trees.
When Charles Schaffner of West Haven, Utah, closed on a home recently, he didn't leave with a giant stack of paperwork. Instead, he left with a CD containing electronic versions of all closing documents.The closing took less than 20 minutes, and yet Schaffner knew exactly what he was signing; he'd reviewed all of the documents at home the night before.
Schaffner got his loan through Mountain America Credit Union, which is one of the first banks in the country to roll out an electronic-closing option. Encompassing home contracts, closings and loans, electronic processes are saving time and money. (Bing: Paperless real-estate transactions)
Schaffner says his experience with electronic closing was a far cry from previous closings.
