As mentioned above under Tip No. 3, some states require the use of a real estate attorney in the refinance process. While it is otherwise not necessarily required, we highly recommend hiring an attorney if only to have someone there who’ll understand the mortgage terms that may get thrown around.
Do I need an attorney to refinance my mortgage in Massachusetts?
Lenders are required to be represented by an attorney in residential mortgage refinances. The borrower always pays the lender’s attorney’s fees. You should also have a real estate attorney to protect your interests.
Do you need an attorney to refinance your mortgage?
Refinancing can replace your current home loan with one that has a lower or fixed interest rate or a longer payment period that reduces your monthly bill. Refinancing has its complexities, but most homeowners don’t need the services of an attorney to navigate the process.
How is a refinance done in New Jersey?
A refinance is a bit different. Generally, most refinances in New Jersey can be handled directly between the borrower, the mortgage lender and a settlement agent – usually a title company – that’s been approved by the lender, said Jason Rittie, a partner and real estate attorney with Einhorn Barbarito in Denville.
Which is states require attorneys for real estate closings?
Massachusetts The state of Massachusetts places great emphasis on having an attorney for closing transactions on any real estate. The attorney is responsible not just for closing, but they are also required to be actively involved in the processes that need to be taken care of before and during the closing.
Do you need a lawyer to buy a house?
Buying a home may seem simple on the outside, but there are plenty of legal facets dictating the process you may not be aware of. And if you reside in any of these attorney closing states, it is necessary to hire a real estate lawyer to complete the closing.
