Homebuyers, It's A Great Time To Haggle Over Closing Costs

Closing costs are a necessary evil of any home purchase, but buyers now have more reason than ever to seek the best deals on them.

Federal lending rules that took effect in January require new disclosure forms and severely limit last-minute closing-cost overages. Fees have fallen because of the rules and a buyer's market, some experts say. Others maintain that the rules are actually causing fee overestimation.

"Business is generally down now for mortgage lenders so most of them are cutting fees," said Guy Cecala, publisher of industry newsletter Inside Mortgage Finance.

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