With historically low interest rates, right now is a great time to refinance your mortgage. Dropping your interest rate can make a huge difference in your monthly payment and it could allow you to pay off your mortgage quicker. If you are considering refinancing, you will also want to think about hiring an attorney to represent you at your refinance closing. Here are a few reasons why you need an attorney for refinance closing.
- Complete a Title Search. Your attorney can ensure that you have a clear title to close. Only licensed attorneys can perform a title search. Relying on your lender’s attorney to do this is not in your best interest. A real estate lawyer can also make sure that your first mortgage is paid off and discharged from your record. This will keep your title clear and make it easy for you when you are ready to sell your home in the future.
- Protect You from a Refinancing Scheme or Hidden Fees. With the popularity of refinancing comes the risk of companies trying to take advantage of this complicated process. Your real estate lawyer can study the paperwork that you will be signing and determine if it is in your best interest and following the law.
- Represents Your Interests. As your attorney assists you with contract terms and negotiations, they will have your best interest in mind. They will protect your rights throughout the entire process.
- Peace of Mind. Hiring an attorney can give you the peace of mind that this intricate process will be completed efficiently and accurately. If there are any problems, you know that your attorney has the experience and knowledge to find a solution.
If you are considering refinancing your home, consider using an attorney from Innovative Closing Solutions. We can protect you in this important transaction. We have the experience and expertise to make your refinance closing quick and stress free.