For clients pursuing refinancing of property, Loughlin FitzGerald, P.C., offer experienced counsel and representation as needed. Call or email us to schedule a consultation and learn how our Connecticut real estate law firm can be of assistance as you consider refinancing your home.
Do I Need A Lawyer To Refinance In Connecticut?
Mortgage holders who are considering looking into a refinance sometimes believe that their primary source of information should be the lending institution. While it is reasonable to expect clear and straightforward communication from mortgage lenders, it is also important to recognize that their priorities may not align with the mortgage holder's perspective. An attorney representing the mortgage holder, on the other hand, can provide much-needed reassurance and guidance.
A Banker May Provide Information And A Refinancing Offer, But Cannot Practice Law
A banker naturally wants to earn a commission and settle a deal expeditiously. However, a banker cannot explain loan documents to a borrower. There is no guarantee that all facets of the refinancing will be clear to the borrower or that the refinancing is truly in the borrower's best interests.
The lender may not verify that previous loans have been paid off or ascertain whether land has been subdivided, whether back taxes have been paid or whether there is any other impediment to a smooth transaction with the best available terms for the borrower. Even when a lender is well-intentioned, a banker cannot practice law without a license as needed to resolve legal impediments that become apparent.
A Connecticut Attorney Can Advise You On Your Best Interests In Real Estate Matters
An experienced and dedicated real estate lawyer can help ensure that a private individual's perspective is given full consideration. Our New Haven refinance lawyers at Loughlin FitzGerald, P.C., offer clients the benefit of in-depth review and analysis of a proposed refinancing, including:
- Review of the mortgage commitment and advice on any issues that may arise from it
- Explanation of the importance and impact of the mandatory rescission period
- Ensuring that the refinancing property owner receives any available discount on the title insurance premium
- Timing of the closing to avoid additional interest if the existing loan is an FHA mortgage
- Ensuring prior liens are properly released
- Ensuring that the correct description is being used
Clients of Loughlin FitzGerald, P.C., have reassurance that our knowledgeable lawyers will do in-depth follow-up on any title defects that are discovered or any other legal issues that arise.
Contact Us To Learn How Loughlin FitzGerald, P.C., Can Serve You As You Consider A Home Refinance
The Federal Reserve Bank has recently taken actions to encourage more refinances at lower interest rates. If you are interested in determining whether it is to your advantage to take this step or have already discussed a proposed refinancing with a lender, now take the next step to protect your best interests. Contact us and schedule a consultation with an attorney at your convenience.