WHAT TYPE OF ATTORNEY SHOULD I TALK TO ABOUT REFINANCING MY MORTGAGE?

The short answer is, talk to a Real Estate Attorney about refinancing your mortgage.  Many States require that title attorneys and not a title company issue a title policy. Your Real Estate Attorney will analyze your title, and all the documents.  Importantly, because you are the attorney’s client, and they are specifically representing your interests and NOT the interests of the bank or refinance company, your attorney will make sure you truly understand the documents, all the fine print, and what the real world effect of the new interest rates and terms mean for you.  Not the greedy bank or the lender!

When refinancing a mortgage that is probably in excess of U.S. $100,000.00 or more, don’t be penny wise and pound foolish.  It’s definitely worth the U.S. $250 bucks or so a competent Real Estate Attorney may charge you for going through the refinance with you to make sure that no one takes advantage of you, and to ensure that you get the best possible outcome from your refinance.  The more monetary value at stake in the refinance of your mortgage, the more sense it makes to pay even a little higher amount for a competent advocate in your corner.  It’s totally worth it to make sure that no one takes advantage of you in the refinance process.  If you think the banks or mortgage loan companies never pulled a fast one on someone who went through a refi without a lawyer in order to make a profit, check out the Bank of America and Countrywide mortgage loan fraud case. That alone should be enough to show you that it’s worth it to have a Real Estate Attorney by your side through the refinancing of your mortgage.     

At the end of the day the attorney's duty is to make sure that your title is clear, that you TRULY understand what you are signing, and that you have considered and are aware of the ramifications of the refinance. At your closing, your attorney will explain each document to you that you sign. When your refinance closes, your attorney will return all the mortgage documents to the lender, and ensure that everything regarding your refinance is done properly and in order.  Most importantly, your Real Estate Attorney makes sure no one takes advantage of you during the refinance process.