Refinance Closings in Florida
Sarasota Real Estate Attorneys
Refinancing your mortgage on your home can be a great way to lower your
payments, lower your rate or shorten your payment schedule. 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 may not be under your direct control.
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
Once you are approved for a new loan by your lender, you have the right
to select the Closing Agent. The Closing Agent will work closely with
the new lender to satisfy the requirements of the new loan. At closing,
the Closing Agent will review the new loan documents with you to explain
the important terms. 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: The Closing Disclosure is the summary of all of the charges incurred at
the refinance closing. Under Federal Law, the final Closing Disclosure
(or "CD" for short) needs to be delivered to the borrower no
less than three business days prior to the closing.
Mortgage: The Mortage is the document recorded in the Official Records of the County
and is the document that places a lien against your property to provide
security for the repayment of the new loan.
Promissory note: The Note is the "IOU" or the document in which you promise to
pay the loan back to the lender.
Who Can Help Me With a Refinance Closing?
There are many benefits refinancing the existing mortgage on your home
so long as the terms of the new mortgage are advantageous to you. If you
are thinking about refinancing your house, you should seek the legal counsel
of an experienced Sarasota real estate lawyer to represent you in the
transaction. Our attentive team of professionals at The Edwards Law Firm,
PL genuinely wants to help you through the 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.