Residential Refinancing Mortgages
For legal assistance with refinancing mortgages, call an attorney serving the North Shore of Massachusetts, at (978) 744-2811.
When it comes to refinancing your home, you need an experienced legal professional at your side. Choose a Massachusetts real estate attorney to walk you through residential refinancing mortgages. Contact Jordan & White for legal assistance on the North Shore of Massachusetts.
What Is a Mortgage Refinance in Massachusetts?
Mortgage refinancing occurs when homeowners get a new mortgage to pay off an old one. If you live and own property in Massachusetts, consider refinancing your mortgage and finding a different, perhaps better option. An experienced attorney can help you sift through all the possibilities and understand the best way to proceed.
Reasons To Refinance Your Residential Mortgage
Residential refinancing mortgages might sound complicated at first. However, many homeowners throughout the U.S. successfully do it with the help of a trusted lawyer. You might be interested in refinancing your home for several reasons, including:
- Adjusting the loan: If you’re dissatisfied with your monthly payments or total loan amount, a real estate attorney can help with modifications. You can do things like shorten or lengthen the loan term and change the payment schedule.
- Receiving cash for paying debts: Over time, your mortgage payments will build up equity in your home. You could cash out and pay off debts by refinancing the mortgage.
- Doing home renovations: Home improvement projects can be expensive. However, you can refinance your mortgage and use the home equity to pay for renovations instead of getting another loan.
- Allocating funds to a retirement plan: Refinancing your mortgage could provide extra funds to contribute toward a retirement savings plan.
One of the main reasons to refinance is that you can get a new mortgage with a better rate or term. This can help you save money on the principal and interest. You will still need to consider origination fees and closing costs, though.
Do You Need a Massachusetts Lawyer for Mortgage Refinancing?
If you’re looking into residential refinancing mortgages, you will need an attorney. Massachusetts is one of several U.S. states requiring a real estate or closing attorney to be present for mortgage refinances. Not only is it mandatory, but it is also beneficial to everyone involved.
Your attorney can help in various aspects of the refinancing process. Some of the most common ways include:
- Helping you understand legal jargon
- Offering guidance on your loan options
- Ensuring contracts are legally binding
- Preventing common mistakes from occurring
- Double-checking and verifying all the paperwork
- Reviewing the relevant documentation
- Communicating with the lender, borrower, and other parties
- Addressing any legal concerns you may have
- Simplifying the mortgage refinancing process
Jordan & White: Trusted Real Estate Attorneys Serving the North Shore of Massachusetts
Residential refinancing mortgages are an excellent way to save money and pursue other investments. Jordan & White has a team of experienced lawyers who can help the process go smoothly. To schedule an initial consultation with a trusted Massachusetts real estate/closing attorney, call (978) 744-2811 today.