When taking a mortgage the borrower will incur closing fees. When refinancing some of the fees can be avoided as they were paid when the original mortgage was taken. To avoid some fees ask about mortgage modifications and assignment of the existing mortgage. Existing mortgage lenders can save their current borrowers money by doing loan [...]
If extra borrowing is not a priority and the purpose of the refinancing is merely to reduce the interest rate it may still be necessary to increase the principal balance to cover the closing costs of the refinance. In refinancing a borrower will normally incur bank (application, appraisal), title and legal fees which can cost [...]
When discussing a client’s refinance I usually go over a script on what to say to the mortgage brokers to get a GFE. When you call the right type of lender you should only need to answer a few general questions about your income and credit in order to get a GFE. Because a GFE [...]
Before attempting to refinance your mortgage a homeowner should make do three things-clarify your refinancing goals, investigate several lenders and make sure you are in fact saving money. Whether your goal is to reduce your payments, borrow additional money for other uses or change your mortgage from an adjustable to a fixed rate, you need [...]
As a real estate attorney I often am faced with selling property owned by the estates of deceased clients. While real estate can often be sold without the necessity of probating a will it is always easier when a will is involved as it answers many of the questions asked by the heirs. This is [...]
5 Myths That Can Ruin the Purchase of Your Home
