Refinance Closings in Florida
Sarasota Real Estate Attorneys
Refinancing your debt obligation on your home can be a great way to secure
an easier, better future for you and your family. Renegotiating the terms
under which you will repay your debt is not simple, however, and numerous
terms and conditions will come into effect during this process, some of
which that may not be under your direct control.
Some of the aspects banks and mortgage lenders often consider when approached
for a refinance include, but are not limited to:
- Inherent risk
- Projected risk
- Currency stability
- Borrower’s worthiness of credit
If you are thinking about refinancing your home, but don’t know where
to even begin, an experienced real estate closing lawyer from The Edwards
Law Firm, PL in Sarasota can help you. We have maintained a 10.0 “Superb”
Rating from Avvo due to our dedication to our clients and vast understanding
of the complicated real estate law system, and we would like nothing more
than to provide you with that same level of commitment.
The Refinance Closing Process
If you have contacted a real estate closing attorney and are now ready
to enter the refinance closing process, you can expect to be signing document
after document with the lender’s representative, a closing agent
representing the title company, and a notary public present. Providing
signatures may be as easy as the flick of the wrist but it is of the utmost
importance that you understand each sheet you are signing, so it is highly
recommended you have your own attorney present at the closing process as well.
The three primary documents you will likely be seeing are:
Closing Disclosure: Is a document that needs to be delivered to the borrower no less than three
business days prior to the closing.
Mortgage: The involvement of a mortgage with the refinancing process is to provide
security for the repayment of the loan. More or less, you stand to lose
the deed if the newly refinanced payments are not paid in accordance to
the regulations established.
Promissory note: The actual paperwork that requires a signature to put the refinance into
action, based on the new agreement terms. To put it into layman’s
terms, a promissory note acts a detailed “IOU”.
Who Can Help Me With a Refinance Closing?
There are so many benefits to obtaining a reasonable refinancing agreement
on your home that it makes sense for anyone to consider it. The multi-step
process of getting there, however, can act as a major deterrent to just
about anybody. If you need to refinance your house, or if you are preparing
to reach a settlement on a refinancing agreement already drafted, you
should seek the legal counsel of an experienced Sarasota real estate lawyer.
Our attentive team of professionals at The Edwards Law Firm, PL genuinely
wants to help you through this trying process. Your satisfaction is our
satisfaction, and we would love to prove that to you.
contact us today for an
initial consultation about your upcoming refinance closing.